Seritage Growth Properties (NYSE:SRG) – Equities research analysts at Boenning Scattergood dropped their Q3 2017 earnings per share (EPS) estimates for shares of Seritage Growth Properties in a research note issued on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the financial services provider will post earnings of $0.52 per share for the quarter, down from their prior estimate of $0.55. Boenning Scattergood currently has a “Sell” rating and a $38.00 price target on the stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q4 2017 earnings at $0.54 EPS and Q2 2018 earnings at $0.57 EPS.
Other analysts have also issued research reports about the company. Zacks Investment Research lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. BidaskClub lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $48.00 target price on shares of Seritage Growth Properties in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $44.33.
Shares of Seritage Growth Properties (NYSE SRG) opened at 46.50 on Thursday. Seritage Growth Properties has a one year low of $38.49 and a one year high of $51.88. The stock’s market capitalization is $1.58 billion. The company’s 50-day moving average price is $45.32 and its 200 day moving average price is $43.26.
Several institutional investors have recently added to or reduced their stakes in SRG. SG Americas Securities LLC purchased a new position in Seritage Growth Properties during the second quarter valued at about $117,000. FMR LLC bought a new stake in shares of Seritage Growth Properties during the first quarter valued at $216,000. CIBC World Markets Inc. bought a new stake in shares of Seritage Growth Properties during the second quarter valued at $326,000. First Trust Advisors LP increased its stake in shares of Seritage Growth Properties by 2.6% in the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock valued at $356,000 after buying an additional 212 shares in the last quarter. Finally, Blair William & Co. IL bought a new stake in shares of Seritage Growth Properties during the second quarter valued at $346,000. 86.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Bruce R. Berkowitz bought 31,200 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were purchased at an average cost of $39.69 per share, with a total value of $1,238,328.00. Following the transaction, the insider now directly owns 35,850 shares in the company, valued at $1,422,886.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bruce R. Berkowitz bought 149,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was purchased at an average cost of $39.49 per share, for a total transaction of $5,895,857.00. Following the completion of the transaction, the insider now owns 35,850 shares in the company, valued at $1,415,716.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 184,800 shares of company stock worth $7,300,810. Insiders own 9.78% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 28th. Seritage Growth Properties’s payout ratio is presently -42.19%.
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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