Seritage Growth Properties (SRG) Declares $0.25 Quarterly Dividend
Seritage Growth Properties (NYSE:SRG) announced a quarterly dividend on Tuesday, February 20th, Zacks reports. Stockholders of record on Friday, March 30th will be given a dividend of 0.25 per share by the financial services provider on Thursday, April 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, March 28th.
Seritage Growth Properties has a dividend payout ratio of 56.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Seritage Growth Properties to earn $2.14 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 46.7%.
Seritage Growth Properties (NYSE SRG) traded up $0.15 during midday trading on Friday, hitting $34.96. The stock had a trading volume of 70,338 shares, compared to its average volume of 465,660. The company has a market capitalization of $1,276.53, a P/E ratio of -15.87 and a beta of 1.03. Seritage Growth Properties has a 52-week low of $34.07 and a 52-week high of $50.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 5.07 and a current ratio of 5.07.
Several research analysts recently issued reports on SRG shares. Boenning Scattergood reaffirmed a “sell” rating on shares of Seritage Growth Properties in a research report on Thursday, March 8th. Zacks Investment Research cut Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 23rd.
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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