Zacks: Seritage Growth Properties (SRG) Receives Average Rating of “Sell” from Analysts
Shares of Seritage Growth Properties (NYSE:SRG) have received an average broker rating score of 4.00 (Sell) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell rating and one has given a hold rating to the company.
Brokerages have set a 12-month consensus target price of $43.00 for the company and are forecasting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also assigned Seritage Growth Properties an industry rank of 195 out of 265 based on the ratings given to its competitors.
A number of equities analysts have issued reports on SRG shares. Zacks Investment Research cut shares of Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Boenning Scattergood set a $38.00 target price on shares of Seritage Growth Properties and gave the stock a “sell” rating in a research report on Tuesday, November 21st.
In other news, major shareholder Bruce R. Berkowitz sold 106,900 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.36, for a total value of $4,314,484.00. Following the completion of the transaction, the insider now owns 528,498 shares of the company’s stock, valued at $21,330,179.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Salle Benoit La acquired 24,300 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was purchased at an average cost of $1.45 per share, with a total value of $35,235.00. In the last 90 days, insiders have acquired 110,750 shares of company stock valued at $187,062 and have sold 333,500 shares valued at $13,447,193. Insiders own 9.78% of the company’s stock.
Large investors have recently bought and sold shares of the company. Alpha Windward LLC acquired a new position in shares of Seritage Growth Properties in the third quarter valued at approximately $459,000. Eagle Asset Management Inc. grew its holdings in Seritage Growth Properties by 38.0% in the second quarter. Eagle Asset Management Inc. now owns 1,331,200 shares of the financial services provider’s stock valued at $55,843,000 after purchasing an additional 366,325 shares during the period. Fairholme Capital Management LLC grew its holdings in Seritage Growth Properties by 3.8% in 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 period. TCW Group Inc. grew its holdings in Seritage Growth Properties by 9.8% in the third quarter. TCW Group Inc. now owns 583,351 shares of the financial services provider’s stock valued at $26,875,000 after purchasing an additional 52,206 shares during the period. Finally, AXA grew its holdings in Seritage Growth Properties by 40.9% in the second quarter. AXA now owns 31,000 shares of the financial services provider’s stock valued at $1,300,000 after purchasing an additional 9,000 shares during the period. 78.00% of the stock is owned by institutional investors and hedge funds.
Seritage Growth Properties (NYSE SRG) opened at $40.75 on Thursday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1,424.64, a PE ratio of 22.37 and a beta of 1.03. Seritage Growth Properties has a 52-week low of $38.49 and a 52-week high of $50.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, December 28th. Seritage Growth Properties’s payout ratio is currently -71.94%.
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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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