Istar Inc. is Buying Safety Income & Growth Inc. (NYSE:SAFE) Shares

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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Safety Income & Growth Inc. (NYSE:SAFE) reported that Istar Inc. has picked up 5,025,000 of common stock as of 2017-07-07.

The acquisition brings the aggregate amount owned by Istar Inc. to a total of 5,025,000 representing a 27.6% stake in the company.

For those not familiar with the company, Safety, Income and Growth, Inc. is formed primarily to acquire, own, manage, finance and capitalize ground net leases (GNLs). The Company’s portfolio consists of 12 properties, which includes Doubletree Seattle Airport, One Ally Center, Hilton Salt Lake, Doubletree Mission Valley, Doubletree Sonoma, Doubletree Durango, Dallas Market Center: Sheraton Suites, Northside Forsyth Hospital Medical Center, NASA/JPSS Headquarters, The Buckler Apartments, Dallas Market Center: Marriott Courtyard and Lock Up Self Storage Facility.

A glance at Safety Income & Growth Inc. (NYSE:SAFE)’s key stats reveals a current market capitalization of $353.98 Million based on $18.19 Million outstanding and a price at last close of $19.41 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-06-27, Selig picked up 10,000 at a purchase price of $20.00. This brings their total holding to 20,000 as of the date of the filing.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an Safety Income & Growth Inc. (NYSE:SAFE) as things move forward to see if its progress aligns with these transactions.

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