Seritage Growth Properties (SRG) Rating Lowered to Hold at Zacks Investment Research

Seritage Growth Properties (NYSE:SRG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “

A number of other research firms also recently commented on SRG. Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, August 8th. BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $46.33.

Seritage Growth Properties (NYSE SRG) opened at 45.13 on Wednesday. Seritage Growth Properties has a 12 month low of $39.60 and a 12 month high of $49.25. The firm’s market capitalization is $1.53 billion. The firm’s 50-day moving average is $45.97 and its 200-day moving average is $45.97.

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A number of hedge funds have recently made changes to their positions in the business. Phocas Financial Corp. grew its holdings in Seritage Growth Properties by 4.4% during the second quarter. Phocas Financial Corp. now owns 110,046 shares of the financial services provider’s stock valued at $4,616,000 after purchasing an additional 4,685 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Seritage Growth Properties by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 933,958 shares of the financial services provider’s stock valued at $39,179,000 after purchasing an additional 161,295 shares during the last quarter. State Street Corp grew its holdings in Seritage Growth Properties by 3.1% during the second quarter. State Street Corp now owns 840,425 shares of the financial services provider’s stock valued at $35,257,000 after purchasing an additional 25,354 shares during the last quarter. Fairholme Capital Management LLC grew its holdings in Seritage Growth Properties by 3.8% during the second quarter. Fairholme Capital Management LLC now owns 3,807,150 shares of the financial services provider’s stock valued at $159,710,000 after purchasing an additional 140,200 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Seritage Growth Properties by 16.7% during the second quarter. HighTower Advisors LLC now owns 143,444 shares of the financial services provider’s stock valued at $6,020,000 after purchasing an additional 20,483 shares during the last quarter. Institutional investors own 74.89% of the company’s stock.

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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