Shares of Seritage Growth Properties (NYSE:SRG) have been assigned an average broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and one has issued a strong buy rating on the company. Seritage Growth Properties’ rating score has improved by 40% in the last three months as a result of a number of analysts’ ratings changes.
Brokers have set a one year consensus price objective of $38.00 for the company and are expecting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Seritage Growth Properties an industry rank of 93 out of 265 based on the ratings given to related companies.
A number of brokerages have recently issued reports on SRG. Zacks Investment Research raised shares of Seritage Growth Properties from a “sell” rating to a “strong-buy” rating and set a $57.00 target price for the company in a research report on Thursday, September 22nd. Royal Bank Of Canada began coverage on shares of Seritage Growth Properties in a research report on Tuesday, September 6th. They issued a “top pick” rating and a $72.00 target price for the company. Finally, RBC Capital Markets began coverage on shares of Seritage Growth Properties in a research report on Tuesday, September 6th. They issued a “top pick” rating and a $72.00 target price for the company.
In other news, major shareholder Bruce R. Berkowitz acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was acquired at an average price of $47.61 per share, with a total value of $476,100.00. Following the completion of the transaction, the insider now directly owns 35,850 shares of the company’s stock, valued at approximately $1,706,818.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bruce R. Berkowitz acquired 24,700 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The shares were purchased at an average cost of $45.15 per share, with a total value of $1,115,205.00. Following the transaction, the insider now directly owns 35,850 shares of the company’s stock, valued at $1,618,627.50. The disclosure for this purchase can be found here. Corporate insiders own 10.18% of the company’s stock.
An institutional investor recently raised its position in Seritage Growth Properties stock. BNP Paribas Arbitrage SA boosted its stake in Seritage Growth Properties (NYSE:SRG) by 87.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,690 shares of the company’s stock after buying an additional 1,258 shares during the period. BNP Paribas Arbitrage SA’s holdings in Seritage Growth Properties were worth $136,000 at the end of the most recent reporting period. 75.88% of the stock is owned by institutional investors and hedge funds.
Shares of Seritage Growth Properties (NYSE:SRG) opened at 48.87 on Thursday. Seritage Growth Properties has a 52-week low of $33.34 and a 52-week high of $57.31. The firm’s market cap is $1.54 billion. The firm has a 50-day moving average of $48.14 and a 200 day moving average of $49.27.
Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Thursday, August 4th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Seritage Growth Properties had a negative net margin of 15.85% and a negative return on equity of 2.43%. On average, equities analysts predict that Seritage Growth Properties will post $2.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 annualized dividend and a yield of 2.05%. Seritage Growth Properties’s dividend payout ratio is -82.64%.
Seritage Growth Properties Company Profile
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P.
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