Seritage Growth Properties (NYSE:SRG) – Stock analysts at Boenning Scattergood issued their Q1 2019 earnings per share (EPS) estimates for Seritage Growth Properties in a research report issued to clients and investors on Tuesday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum expects that the financial services provider will post earnings per share of $0.54 for the quarter. Boenning Scattergood currently has a “Sell” rating and a $38.00 target price on the stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.23 EPS.
Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.21). Seritage Growth Properties had a negative net margin of 17.97% and a negative return on equity of 3.33%.
Separately, Zacks Investment Research downgraded Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th.
Seritage Growth Properties (NYSE:SRG) opened at $40.79 on Wednesday. Seritage Growth Properties has a 52 week low of $38.49 and a 52 week high of $50.00. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $1,443.40, a price-to-earnings ratio of 22.66 and a beta of 0.96.
In related news, Director Salle Benoit La bought 62,700 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was acquired at an average cost of $1.60 per share, with a total value of $100,320.00. Also, major shareholder Bruce R. Berkowitz sold 27,100 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $40.93, for a total value of $1,109,203.00. Following the completion of the sale, the insider now directly owns 583,498 shares of the company’s stock, valued at $23,882,573.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,205,400 shares of company stock valued at $48,970,158. 9.78% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Seritage Growth Properties during the 2nd quarter worth $117,000. Schroder Investment Management Group purchased a new position in shares of Seritage Growth Properties during the 3rd quarter worth $152,000. Janney Capital Management LLC purchased a new position in shares of Seritage Growth Properties during the 3rd quarter worth $249,000. CIBC World Markets Inc. purchased a new position in shares of Seritage Growth Properties during the 2nd quarter worth $326,000. Finally, Haverford Financial Services Inc. purchased a new position in shares of Seritage Growth Properties during the 3rd quarter worth $434,000. Institutional investors and hedge funds own 77.95% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/02/04/brokers-offer-predictions-for-seritage-growth-properties-q1-2019-earnings-srg.html.
About Seritage Growth Properties
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.
Get a free copy of the Zacks research report on Seritage Growth Properties (SRG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Seritage Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seritage Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.