Seritage Growth Properties (NYSE:SRG) received a $38.00 price target from investment analysts at Boenning Scattergood in a report issued on Monday. The brokerage currently has a “sell” rating on the financial services provider’s stock. Boenning Scattergood’s target price would suggest a potential downside of 18.52% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on SRG. BidaskClub raised shares of Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research note on Sunday. Zacks Investment Research raised shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price target on shares of Seritage Growth Properties in a research report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.33.

Shares of Seritage Growth Properties (NYSE SRG) traded up 3.03% during midday trading on Monday, hitting $46.64. 978,959 shares of the company traded hands. Seritage Growth Properties has a 52 week low of $38.49 and a 52 week high of $51.88. The stock’s market capitalization is $1.58 billion. The stock has a 50 day moving average of $40.74 and a 200-day moving average of $42.66.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Thursday, May 4th. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.13. The company had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $67.42 million. Seritage Growth Properties had a negative net margin of 25.12% and a negative return on equity of 4.36%. Equities analysts forecast that Seritage Growth Properties will post $2.33 earnings per share for the current fiscal year.

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In other news, major shareholder Bruce R. Berkowitz bought 123,500 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were purchased at an average price of $40.83 per share, for a total transaction of $5,042,505.00. Following the completion of the acquisition, the insider now owns 35,850 shares of the company’s stock, valued at $1,463,755.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bruce R. Berkowitz bought 20,900 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was purchased at an average price of $41.50 per share, for a total transaction of $867,350.00. Following the acquisition, the insider now directly owns 35,850 shares of the company’s stock, valued at approximately $1,487,775. The disclosure for this purchase can be found here. Insiders have acquired 391,600 shares of company stock worth $15,702,921 over the last quarter. Company insiders own 9.78% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SRG. First Trust Advisors LP boosted its position 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. State Board of Administration of Florida Retirement System boosted its position in shares of Seritage Growth Properties by 2.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 9,409 shares of the financial services provider’s stock valued at $402,000 after buying an additional 250 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Seritage Growth Properties by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 14,402 shares of the financial services provider’s stock valued at $621,000 after buying an additional 786 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Seritage Growth Properties by 4.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,392 shares of the financial services provider’s stock valued at $1,009,000 after buying an additional 925 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Seritage Growth Properties by 7.1% in the first quarter. American International Group Inc. now owns 15,373 shares of the financial services provider’s stock valued at $663,000 after buying an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 86.41% 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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