Seritage Growth Properties (NYSE:SRG) has earned an average broker rating score of 4.00 (Sell) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and one has assigned a hold recommendation to the company.
Analysts have set a 1-year consensus price target of $43.00 for the company and are anticipating that the company will post $0.54 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Seritage Growth Properties an industry rank of 174 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on the stock. Boenning Scattergood set a $38.00 target price on shares of Seritage Growth Properties and gave the stock a “sell” rating in a report on Monday, July 17th. BidaskClub lowered shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of 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.
In other news, major shareholder Bruce R. Berkowitz sold 27,100 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $40.93, for a total value of $1,109,203.00. Following the sale, the insider now directly owns 583,498 shares in the company, valued at approximately $23,882,573.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Salle Benoit La bought 23,400 shares of Seritage Growth Properties stock in a transaction dated Friday, November 3rd. The stock was acquired at an average price of $1.60 per share, for a total transaction of $37,440.00. Insiders have bought a total of 110,750 shares of company stock worth $187,062 over the last 90 days. Insiders own 9.78% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SRG. FMR LLC purchased a new stake in Seritage Growth Properties in the 1st quarter valued at about $216,000. Teachers Advisors LLC boosted its position in Seritage Growth Properties by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 42,722 shares of the financial services provider’s stock valued at $1,843,000 after buying an additional 1,198 shares during the period. California Public Employees Retirement System raised its holdings in shares of Seritage Growth Properties by 7.6% in the 1st quarter. California Public Employees Retirement System now owns 26,800 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 1,900 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Seritage Growth Properties by 19.1% in the 1st quarter. Geode Capital Management LLC now owns 233,227 shares of the financial services provider’s stock valued at $10,063,000 after purchasing an additional 37,381 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Seritage Growth Properties by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 59,363 shares of the financial services provider’s stock valued at $2,561,000 after purchasing an additional 1,800 shares in the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.
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Seritage Growth Properties (NYSE SRG) traded down $0.05 during midday trading on Tuesday, reaching $40.78. 162,100 shares of the company’s stock traded hands, compared to its average volume of 339,306. 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 twelve month low of $38.49 and a twelve month high of $50.00. The stock has a market capitalization of $1,430.00 and a price-to-earnings ratio of 22.68.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. Seritage Growth Properties’s payout ratio is -71.94%.
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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