Brokerages Anticipate Seritage Growth Properties (SRG) to Announce $0.49 Earnings Per Share
Shares of Seritage Growth Properties (NYSE:SRG) have received a consensus broker rating score of 4.00 (Sell) from the two brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and one has issued a hold recommendation on the company.
Brokers have set a 12-month consensus price objective of $43.00 for the company and are forecasting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also given Seritage Growth Properties an industry rank of 191 out of 265 based on the ratings given to related companies.
Several equities research analysts have weighed in on the company. Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, August 8th. BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a report on Saturday, August 12th.
Shares of Seritage Growth Properties (SRG) traded up $0.02 during mid-day trading on Tuesday, hitting $40.64. The company’s stock had a trading volume of 194,468 shares, compared to its average volume of 336,458. Seritage Growth Properties has a twelve month low of $38.49 and a twelve month high of $50.00. The stock has a market cap of $1,430.00 and a PE ratio of 22.74. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio is -71.94%.
In other news, major shareholder Bruce R. Berkowitz sold 120,900 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.18, for a total value of $4,857,762.00. Following the completion of the transaction, the insider now directly owns 583,498 shares of the company’s stock, valued at approximately $23,444,949.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Salle Benoit La purchased 24,300 shares of Seritage Growth Properties stock in a transaction dated Tuesday, October 31st. The stock was bought at an average cost of $1.45 per share, with a total value of $35,235.00. Over the last three months, insiders bought 110,750 shares of company stock valued at $187,062. Corporate insiders own 9.78% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in shares of Seritage Growth Properties by 9.3% in the 3rd quarter. California Public Employees Retirement System now owns 32,364 shares of the financial services provider’s stock worth $1,491,000 after acquiring an additional 2,764 shares in the last quarter. Janney Capital Management LLC bought a new position in shares of Seritage Growth Properties in the 3rd quarter worth $249,000. Jane Street Group LLC raised its position in shares of Seritage Growth Properties by 124.7% in the 3rd quarter. Jane Street Group LLC now owns 11,541 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 6,405 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Seritage Growth Properties by 7.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 51,739 shares of the financial services provider’s stock worth $2,397,000 after acquiring an additional 3,511 shares in the last quarter. Finally, OxFORD Asset Management LLP raised its position in shares of Seritage Growth Properties by 28.7% in the 3rd quarter. OxFORD Asset Management LLP now owns 110,002 shares of the financial services provider’s stock worth $5,100,000 after acquiring an additional 24,526 shares in the last quarter. 78.00% of the stock is owned by hedge funds and other institutional investors.
About Seritage Growth Properties
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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