Safety Income & Growth Inc (SAFE) Given New $18.90 Price Target at Bank of America Corporation

Safety Income & Growth Inc (NASDAQ:SAFE) had its target price cut by equities researchers at Bank of America Corporation from $20.00 to $18.90 in a research report issued to clients and investors on Monday. The brokerage currently has a “neutral” rating on the stock. Bank of America Corporation’s price target suggests a potential upside of 5.18% from the company’s current price.

Several other research firms have also issued reports on SAFE. J P Morgan Chase & Co began coverage on Safetyome & Growth in a report on Monday, July 17th. They set a “neutral” rating and a $21.00 price target for the company. Barclays PLC began coverage on Safetyome & Growth in a report on Monday, July 17th. They set an “equal weight” rating and a $21.00 price target for the company. Mizuho began coverage on Safetyome & Growth in a report on Wednesday, August 30th. They set a “neutral” rating and a $20.00 price target for the company. Raymond James Financial, Inc. began coverage on Safetyome & Growth in a report on Tuesday, July 18th. They set a “market perform” rating for the company. Finally, UBS AG began coverage on Safetyome & Growth in a report on Monday, July 17th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.58.

Safetyome & Growth (NASDAQ:SAFE) traded down $0.05 during trading on Monday, reaching $17.97. The company had a trading volume of 26,828 shares, compared to its average volume of 83,964. Safetyome & Growth has a 12 month low of $17.77 and a 12 month high of $20.00.

Safetyome & Growth (NASDAQ:SAFE) last released its quarterly earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). Safetyome & Growth had a negative net margin of 31.66% and a negative return on equity of 4.24%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.86 million.

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In other Safetyome & Growth news, major shareholder Istar Inc. acquired 79,772 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $18.99 per share, with a total value of $1,514,870.28. Following the completion of the purchase, the insider now directly owns 5,531,957 shares in the company, valued at approximately $105,051,863.43. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders bought 987,324 shares of company stock valued at $19,109,039.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC bought a new position in shares of Safetyome & Growth in the second quarter worth about $41,620,000. V3 Capital Management L.P. bought a new position in shares of Safetyome & Growth in the second quarter worth about $8,139,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Safetyome & Growth by 2.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the company’s stock worth $6,710,000 after acquiring an additional 10,000 shares during the period. Vanguard Group Inc. bought a new position in shares of Safetyome & Growth in the second quarter worth about $4,787,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Safetyome & Growth in the second quarter worth about $4,286,000.

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