Seritage Growth Properties (NYSE:SRG) has earned an average broker rating score of 5.00 (Strong Sell) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell recommendation.
Brokers have set a one year consensus target price of $34.00 for the company and are expecting that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also given Seritage Growth Properties an industry rank of 102 out of 265 based on the ratings given to its competitors.
Several brokerages recently commented on SRG. Zacks Investment Research upgraded Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada reiterated a “hold” rating and set a $44.00 target price on shares of Seritage Growth Properties in a report on Monday, March 26th. Finally, Boenning Scattergood reiterated a “sell” rating on shares of Seritage Growth Properties in a report on Thursday, March 8th.
In related news, insider Edward S. Lampert bought 77,638 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average cost of $36.17 per share, for a total transaction of $2,808,166.46. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 78,763 shares of company stock worth $2,848,239. Company insiders own 7.09% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SRG. Carillon Tower Advisers Inc. purchased a new stake in Seritage Growth Properties during the 4th quarter worth approximately $41,778,000. Gates Capital Management Inc. increased its holdings in Seritage Growth Properties by 63.9% during the 4th quarter. Gates Capital Management Inc. now owns 1,488,688 shares of the financial services provider’s stock worth $60,232,000 after purchasing an additional 580,154 shares during the last quarter. CDAM UK Ltd purchased a new stake in Seritage Growth Properties during the 4th quarter worth approximately $21,217,000. Governors Lane LP increased its holdings in Seritage Growth Properties by 86.5% during the 4th quarter. Governors Lane LP now owns 567,093 shares of the financial services provider’s stock worth $22,945,000 after purchasing an additional 263,000 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Seritage Growth Properties by 319.2% during the 4th quarter. Millennium Management LLC now owns 316,575 shares of the financial services provider’s stock worth $12,809,000 after purchasing an additional 241,049 shares during the last quarter. Institutional investors own 86.25% of the company’s stock.
Shares of Seritage Growth Properties stock traded down $0.14 during trading hours on Friday, reaching $37.69. The stock had a trading volume of 134,165 shares, compared to its average volume of 343,237. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 25.64 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 5.02 and a quick ratio of 5.07. Seritage Growth Properties has a 1 year low of $37.44 and a 1 year high of $38.00.
Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($1.76). The firm had revenue of $53.68 million during the quarter, compared to analysts’ expectations of $68.90 million. Seritage Growth Properties had a negative return on equity of 3.29% and a negative net margin of 19.00%. research analysts anticipate that Seritage Growth Properties will post 1.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 12th. Investors of record on Friday, June 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.65%. Seritage Growth Properties’s payout ratio is currently 68.03%.
Seritage Growth Properties Company Profile
Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 230 wholly-owned properties and 23 joint venture properties totaling over 39 million square feet of space across 49 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.
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