Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties (NYSE:SRG) in a research report sent to investors on Tuesday morning. The brokerage currently has a sell rating on the financial services provider’s stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q4 2017 earnings at $0.49 EPS, FY2017 earnings at $1.76 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.55 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.18 EPS.

SRG has been the topic of a number of other reports. BidaskClub raised shares of Seritage Growth Properties from a sell rating to a hold rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Seritage Growth Properties from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research note on Saturday, August 12th.

Seritage Growth Properties (SRG) opened at $40.93 on Tuesday. The company has a market cap of $1,442.69, a P/E ratio of 22.65 and a beta of 1.06. Seritage Growth Properties has a 1 year low of $38.49 and a 1 year high of $50.00. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.22 and a current ratio of 4.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. Seritage Growth Properties’s dividend payout ratio is presently -71.94%.

In other Seritage Growth Properties news, Director Salle Benoit La acquired 23,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $1.60 per share, for a total transaction of $37,440.00. Also, major shareholder Bruce R. Berkowitz sold 27,100 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $40.93, for a total transaction of $1,109,203.00. Following the transaction, the insider now owns 583,498 shares in the company, valued at $23,882,573.14. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 110,750 shares of company stock worth $187,062. Insiders own 9.78% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Seritage Growth Properties during the second quarter valued at approximately $117,000. Schroder Investment Management Group bought a new position in shares of Seritage Growth Properties during the third quarter valued at approximately $152,000. FMR LLC bought a new position in shares of Seritage Growth Properties during the first quarter valued at approximately $216,000. Janney Capital Management LLC bought a new position in shares of Seritage Growth Properties during the third quarter valued at approximately $249,000. Finally, CIBC World Markets Inc. bought a new position in shares of Seritage Growth Properties during the second quarter valued at approximately $326,000. Hedge funds and other institutional investors own 71.60% of the company’s stock.

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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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