Analysts Anticipate Seritage Growth Properties Class A (SRG) to Post $0.28 Earnings Per Share

Seritage Growth Properties Class A (NYSE:SRG) has been assigned an average broker rating score of 5.00 (Strong Sell) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating.

Brokerages have set a 12-month consensus price target of $34.00 for the company and are expecting that the company will post $0.28 EPS for the current quarter, according to Zacks. Zacks has also assigned Seritage Growth Properties Class A an industry rank of 108 out of 255 based on the ratings given to related companies.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Seritage Growth Properties Class A from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 13th. Boenning Scattergood set a $34.00 target price on shares of Seritage Growth Properties Class A and gave the company a “sell” rating in a report on Friday, May 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $44.00 target price on shares of Seritage Growth Properties Class A in a report on Monday, March 26th.

Shares of Seritage Growth Properties Class A opened at $42.43 on Wednesday, Marketbeat reports. The company has a debt-to-equity ratio of 0.96, a quick ratio of 5.02 and a current ratio of 5.02. Seritage Growth Properties Class A has a one year low of $34.07 and a one year high of $50.00. The firm has a market capitalization of $1.57 billion, a PE ratio of 35.11 and a beta of 1.13.

Seritage Growth Properties Class A (NYSE:SRG) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.16). Seritage Growth Properties Class A had a negative net margin of 19.00% and a negative return on equity of 3.29%. The business had revenue of $37.08 million for the quarter, compared to the consensus estimate of $40.51 million. During the same period in the prior year, the business posted $0.48 EPS. Seritage Growth Properties Class A’s revenue for the quarter was down 24.6% on a year-over-year basis. research analysts expect that Seritage Growth Properties Class A will post 1.18 EPS for the current fiscal year.

The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, June 28th. Seritage Growth Properties Class A’s dividend payout ratio is currently 68.03%.

In other Seritage Growth Properties Class A news, Director Sharon Osberg bought 1,200 shares of Seritage Growth Properties Class A stock in a transaction that occurred on Monday, June 18th. The shares were bought at an average price of $44.45 per share, with a total value of $53,340.00. Following the acquisition, the director now owns 2,500 shares in the company, valued at $111,125. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.09% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Seritage Growth Properties Class A during the 1st quarter valued at $125,000. Lido Advisors LLC purchased a new stake in Seritage Growth Properties Class A during the 4th quarter valued at $202,000. Macquarie Group Ltd. boosted its position in Seritage Growth Properties Class A by 90.2% during the 4th quarter. Macquarie Group Ltd. now owns 11,600 shares of the financial services provider’s stock valued at $209,000 after buying an additional 5,500 shares during the period. GSA Capital Partners LLP purchased a new stake in Seritage Growth Properties Class A during the 1st quarter valued at $217,000. Finally, AMP Capital Investors Ltd purchased a new stake in Seritage Growth Properties Class A during the 4th quarter valued at $296,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Seritage Growth Properties Class A 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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