Safety Income & Growth (SAFE) Misses Q3 EPS by 1c

Safety Income & Growth (NYSE: SAFE) reported Q3 EPS of $0.11, $0.01 worse than the analyst estimate of $0.12.

• Net income of $2.0 million or $0.11 per share
• Funds from Operations (FFO) of $4.3 million or $0.24 per share
• Adjusted Funds from Operations (AFFO) of $1.2 million or $0.07 per share
• New investments totaled $106 million
• Aggregate portfolio increased 16% to $770 million
• Deals under LOI rose to $408 million
• Value Bank increased 16% to $1.6 billion

“Our focus, now more than ever, is concentrated on building scale. We increased investment volume, hired new talent to expand our offering geographically, added a new bank to our revolving credit facility, while enhancing our marketing efforts and organizational structure,” said Jay Sugarman, Safety, Income and Growth’s Chairman and Chief Executive Officer. “Our efforts have translated into increased transaction activity and a clear path to reaching our $1 billion asset target and tripling the size of the portfolio from our IPO in June 2017.”

For earnings history and earnings-related data on Safety Income & Growth (SAFE) click here.

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