Several brokerages have updated their recommendations and price targets on shares of Seritage Growth Properties (NYSE: SRG) in the last few weeks:

  • 9/14/2016 – Seritage Growth Properties was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 9/6/2016 – Seritage Growth Properties is now covered by analysts at RBC Capital Markets. They set a “top pick” rating and a $72.00 price target on the stock.
  • 9/6/2016 – Seritage Growth Properties is now covered by analysts at Royal Bank Of Canada. They set a “top pick” rating and a $72.00 price target on the stock.
  • 9/2/2016 – Seritage Growth Properties was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 8/26/2016 – Seritage Growth Properties was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 8/20/2016 – Seritage Growth Properties was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 8/9/2016 – Seritage Growth Properties was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “

Seritage Growth Properties (NYSE:SRG) traded up 2.05% during mid-day trading on Wednesday, hitting $48.84. The company had a trading volume of 77,825 shares. Seritage Growth Properties has a 52-week low of $33.34 and a 52-week high of $57.31. The company has a 50-day moving average price of $47.28 and a 200 day moving average price of $48.68. The company’s market capitalization is $1.54 billion.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ 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, analysts forecast that Seritage Growth Properties will post $2.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, September 28th. Seritage Growth Properties’s payout ratio is currently -82.64%.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 750 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $47.82, for a total value of $35,865.00. Following the completion of the sale, the insider now directly owns 35,850 shares in the company, valued at approximately $1,714,347. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Bruce R. Berkowitz sold 9,648 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $48.63, for a total value of $469,182.24. Following the completion of the sale, the insider now owns 35,850 shares of the company’s stock, valued at $1,743,385.50. The disclosure for this sale can be found here. 10.18% of the stock is owned by company insiders.

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.

5 Day Chart for NYSE:SRG

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