Seritage Growth Properties (NYSE:SRG) Given Consensus Rating of “Sell” by Analysts

Shares of Seritage Growth Properties (NYSE:SRG) have been given a consensus broker rating score of 4.00 (Sell) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell rating and one has given a hold rating to the company.

Brokerages have set a 1-year consensus target price of $43.00 for the company and are expecting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also given Seritage Growth Properties an industry rank of 124 out of 265 based on the ratings given to its competitors.

SRG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Seritage Growth Properties from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price target on shares of Seritage Growth Properties in a research report on Friday, May 5th. Boenning Scattergood reiterated a “sell” rating and set a $38.00 price target on shares of Seritage Growth Properties in a research report on Tuesday, June 27th. Finally, BidaskClub upgraded Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Sunday.

In other news, major shareholder Bruce R. Berkowitz acquired 123,500 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average cost of $40.83 per share, with a total value of $5,042,505.00. Following the acquisition, the insider now owns 35,850 shares in the company, valued at approximately $1,463,755.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bruce R. Berkowitz acquired 149,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $39.49 per share, for a total transaction of $5,895,857.00. Following the completion of the acquisition, the insider now owns 35,850 shares in the company, valued at approximately $1,415,716.50. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 391,600 shares of company stock worth $15,702,921. 9.78% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new position in shares of Seritage Growth Properties during the first quarter worth approximately $124,000. FMR LLC bought a new position in shares of Seritage Growth Properties during the first quarter worth approximately $216,000. First Trust Advisors LP boosted its position in shares of Seritage Growth Properties by 2.6% in the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock worth $356,000 after buying an additional 212 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Seritage Growth Properties by 2.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 9,409 shares of the financial services provider’s stock worth $402,000 after buying an additional 250 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Seritage Growth Properties by 33.7% in the fourth quarter. Macquarie Group Ltd. now owns 11,500 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,900 shares during the period. 86.41% of the stock is currently owned by institutional investors.

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Shares of Seritage Growth Properties (NYSE:SRG) traded up 1.58% on Friday, reaching $47.58. The company’s stock had a trading volume of 508,568 shares. The stock’s market cap is $1.62 billion. Seritage Growth Properties has a 12 month low of $38.49 and a 12 month high of $51.88. The firm’s 50-day moving average price is $41.95 and its 200-day moving average price is $42.50.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.13. The business had revenue of $65.40 million for the quarter, compared to the consensus estimate of $67.42 million. Seritage Growth Properties had a negative net margin of 25.12% and a negative return on equity of 4.36%. On average, analysts forecast that Seritage Growth Properties will post $2.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, June 30th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.10%. Seritage Growth Properties’s dividend payout ratio is -50.76%.

Seritage Growth Properties Company Profile

Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust. The Company is engaged in the acquisition, ownership, development, redevelopment, management and leasing of diversified retail real estate throughout the United States. Its assets are held by and its operations are primarily conducted through, directly or indirectly, Seritage Growth Properties, L.P.

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