Boenning Scattergood Comments on Seritage Growth Properties’ Q1 2018 Earnings (SRG)
Seritage Growth Properties (NYSE:SRG) – Investment analysts at Boenning Scattergood lifted their Q1 2018 earnings per share (EPS) estimates for shares of Seritage Growth Properties in a report released on Monday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the firm will post earnings per share of $0.47 for the quarter, up from their previous estimate of $0.38. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q2 2018 earnings at $0.48 EPS.
Seritage Growth Properties (NYSE:SRG) last released its earnings results on Thursday, August 4th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. Seritage Growth Properties had a negative return on equity of 2.43% and a negative net margin of 15.85%.
Several other research firms have also weighed in 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 on the stock in a report on Thursday. RBC Capital Markets started coverage on shares of Seritage Growth Properties in a report on Tuesday, September 6th. They issued a “top pick” rating and a $72.00 target price on the stock. Finally, Royal Bank Of Canada started coverage on shares of Seritage Growth Properties in a research report on Tuesday, September 6th. They set a “top pick” rating and a $72.00 price target on the stock.
Seritage Growth Properties (NYSE:SRG) traded up 0.89% on Tuesday, hitting $50.15. 62,449 shares of the stock traded hands. The stock’s market capitalization is $1.58 billion. Seritage Growth Properties has a 12-month low of $33.34 and a 12-month high of $57.31. The company’s 50 day moving average price is $47.29 and its 200-day moving average price is $48.68.
A hedge fund recently bought a new stake in Seritage Growth Properties stock. Macquarie Group Ltd. bought a new position in shares of Seritage Growth Properties (NYSE:SRG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,000 shares of the company’s stock, valued at approximately $150,000. 75.88% of the stock is owned by institutional investors.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 9,648 shares of the company’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $48.63, for a total transaction of $469,182.24. Following the transaction, the insider now directly owns 35,850 shares in the company, valued at approximately $1,743,385.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bruce R. Berkowitz sold 750 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $47.82, for a total transaction of $35,865.00. Following the transaction, the insider now owns 35,850 shares in the company, valued at $1,714,347. The disclosure for this sale can be found here. Corporate insiders own 10.18% of the company’s stock.
The business also recently declared 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 is Wednesday, September 28th. This represents a $1.00 annualized dividend and a yield of 2.01%. Seritage Growth Properties’s dividend payout ratio (DPR) is -82.64%.
About Seritage Growth Properties
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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