BidaskClub downgraded shares of Seritage Growth Properties (NYSE:SRG) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

Other analysts also recently issued research reports about the company. Boenning Scattergood set a $38.00 price target on Seritage Growth Properties and gave the stock a sell rating in a research note on Monday, July 17th. Zacks Investment Research downgraded Seritage Growth Properties from a hold rating to a sell rating in a research note on Thursday, May 11th. 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 note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $44.33.

Shares of Seritage Growth Properties (NYSE:SRG) traded up 2.28% during midday trading on Thursday, hitting $48.98. The company had a trading volume of 921,616 shares. The firm’s market cap is $1.66 billion. The company’s 50 day moving average is $43.99 and its 200 day moving average is $42.98. Seritage Growth Properties has a one year low of $38.49 and a one year high of $51.88.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.13. The company had revenue of $65.40 million for the quarter, compared to the consensus estimate of $67.42 million. Seritage Growth Properties had a negative return on equity of 5.43% and a negative net margin of 31.23%. Equities analysts forecast that Seritage Growth Properties will post $2.33 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.04%. Seritage Growth Properties’s dividend payout ratio (DPR) is presently -42.19%.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz acquired 149,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $39.49 per share, with a total value of $5,895,857.00. Following the transaction, the insider now owns 35,850 shares of the company’s stock, valued at $1,415,716.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bruce R. Berkowitz acquired 62,400 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $39.94 per share, with a total value of $2,492,256.00. Following the transaction, the insider now directly owns 35,850 shares in the company, valued at approximately $1,431,849. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 370,700 shares of company stock valued at $14,835,571. 9.78% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. First Manhattan Co. boosted its position in Seritage Growth Properties by 0.5% in the second quarter. First Manhattan Co. now owns 14,125 shares of the financial services provider’s stock valued at $592,000 after buying an additional 75 shares in the last quarter. First Trust Advisors LP boosted its position in 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 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. Rhumbline Advisers boosted its position in Seritage Growth Properties by 1.9% in the second quarter. Rhumbline Advisers now owns 31,400 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 577 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in 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. 86.26% of the stock is owned by institutional investors and hedge funds.

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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