Shares of Seritage Growth Properties (NYSE:SRG) have earned a consensus broker rating score of 5.00 (Strong Sell) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation. Seritage Growth Properties’ rating score has declined by 25% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus price target of $38.00 for the company and are anticipating 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 228 out of 265 based on the ratings given to its competitors.

Several equities analysts have weighed in on SRG shares. Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties and gave the company a “sell” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 23rd.

In other news, major shareholder Bruce R. Berkowitz sold 120,900 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $40.18, for a total transaction of $4,857,762.00. Following the completion of the sale, the insider now directly owns 583,498 shares of the company’s stock, valued at approximately $23,444,949.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Bruce R. Berkowitz sold 106,900 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $40.36, for a total value of $4,314,484.00. Following the sale, the insider now directly owns 528,498 shares of the company’s stock, valued at $21,330,179.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,178,300 shares of company stock valued at $47,860,955. Insiders own 9.78% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CDAM UK Ltd purchased a new stake in Seritage Growth Properties in the 4th quarter worth about $21,217,000. Bank of New York Mellon Corp increased its holdings in Seritage Growth Properties by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 178,507 shares of the financial services provider’s stock worth $7,223,000 after acquiring an additional 4,719 shares during the last quarter. Levin Capital Strategies L.P. increased its holdings in Seritage Growth Properties by 12.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 24,270 shares of the financial services provider’s stock worth $982,000 after acquiring an additional 2,750 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in Seritage Growth Properties by 1.3% in the 4th quarter. Eagle Asset Management Inc. now owns 1,411,759 shares of the financial services provider’s stock worth $57,082,000 after acquiring an additional 18,553 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Seritage Growth Properties by 17.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,074,808 shares of the financial services provider’s stock worth $43,487,000 after acquiring an additional 162,113 shares during the last quarter. 78.48% of the stock is owned by institutional investors.

Shares of Seritage Growth Properties (NYSE:SRG) traded up $0.37 during trading hours on Monday, reaching $39.13. The company’s stock had a trading volume of 666,062 shares, compared to its average volume of 457,228. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. Seritage Growth Properties has a fifty-two week low of $37.78 and a fifty-two week high of $50.00. The company has a market cap of $1,370.00 and a PE ratio of -27.96.

TRADEMARK VIOLATION NOTICE: “Zacks: Seritage Growth Properties (SRG) Given Average Recommendation of “Strong Sell” by Analysts” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.watchlistnews.com/zacks-seritage-growth-properties-srg-given-average-recommendation-of-strong-sell-by-analysts/1861805.html.

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.

Get a free copy of the Zacks research report on Seritage Growth Properties (SRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Seritage Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seritage Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.