Brokerages forecast that Safety Income & Growth Inc (NYSE:SAFE) will announce $11.76 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Safety Income & Growth’s earnings. The highest sales estimate is $11.91 million and the lowest is $11.60 million. Safety Income & Growth reported sales of $6.26 million during the same quarter last year, which indicates a positive year over year growth rate of 87.9%. The firm is expected to announce its next earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Safety Income & Growth will report full year sales of $48.98 million for the current financial year, with estimates ranging from $48.55 million to $49.40 million. For the next financial year, analysts forecast that the business will post sales of $67.13 million per share, with estimates ranging from $64.30 million to $69.95 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Safety Income & Growth.

Safety Income & Growth (NYSE:SAFE) last posted its earnings results on Thursday, July 26th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.07). Safety Income & Growth had a return on equity of 0.93% and a net margin of 9.26%. The firm had revenue of $11.57 million during the quarter, compared to analysts’ expectations of $9.75 million.

Several analysts have issued reports on SAFE shares. Zacks Investment Research upgraded shares of Safety Income & Growth from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday, May 22nd. Barclays reiterated a “hold” rating and issued a $21.00 target price on shares of Safety Income & Growth in a research note on Friday, August 17th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.78.

NYSE SAFE traded up $0.33 on Wednesday, hitting $18.09. The stock had a trading volume of 40,500 shares, compared to its average volume of 69,230. Safety Income & Growth has a 52-week low of $15.57 and a 52-week high of $20.17. The stock has a market capitalization of $305.90 million, a PE ratio of 93.22 and a beta of -0.11.

In other news, major shareholder Istar Inc. bought 3,924 shares of the stock in a transaction on Thursday, September 13th. The shares were acquired at an average cost of $16.90 per share, for a total transaction of $66,315.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marcos Alvarado bought 13,640 shares of the stock in a transaction on Wednesday, August 8th. The stock was purchased at an average price of $17.42 per share, for a total transaction of $237,608.80. The disclosure for this purchase can be found here. Insiders acquired a total of 157,164 shares of company stock worth $2,597,284 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its position in shares of Safety Income & Growth by 66.7% during the 1st quarter. New York State Common Retirement Fund now owns 7,500 shares of the company’s stock valued at $120,000 after buying an additional 3,000 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Safety Income & Growth during the 2nd quarter valued at $222,000. Acadian Asset Management LLC purchased a new stake in shares of Safety Income & Growth during the 2nd quarter valued at $230,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Safety Income & Growth during the 1st quarter valued at $240,000. Finally, Teachers Insurance & Annuity Association of America raised its position in shares of Safety Income & Growth by 37.7% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 15,159 shares of the company’s stock valued at $242,000 after buying an additional 4,153 shares in the last quarter. Hedge funds and other institutional investors own 36.73% of the company’s stock.

About Safety Income & Growth

Safety, Income & Growth Inc (NYSE: SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases.

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