According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “
Several other research firms also recently issued reports on SRG. Wells Fargo & Company initiated coverage on shares of Seritage Growth Properties in a report on Tuesday, October 25th. They set an outperform rating on the stock. Boenning Scattergood reaffirmed an underperform rating on shares of Seritage Growth Properties in a report on Tuesday, November 8th. RBC Capital Markets downgraded shares of Seritage Growth Properties from an outperform rating to a sector perform rating and decreased their price objective for the company from $62.00 to $48.00 in a report on Tuesday, January 3rd. Finally, Royal Bank Of Canada downgraded shares of Seritage Growth Properties from a top pick rating to an outperform rating and decreased their price objective for the company from $72.00 to $62.00 in a report on Monday, December 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and an average price target of $51.25.
Seritage Growth Properties (NYSE:SRG) traded up 0.097% during trading on Tuesday, hitting $40.049. 230,504 shares of the company were exchanged. The company’s market capitalization is $1.27 billion. Seritage Growth Properties has a 12 month low of $36.28 and a 12 month high of $57.31. The stock’s 50-day moving average is $45.23 and its 200-day moving average is $47.21.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Saturday, December 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Wednesday, December 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is -76.92%.
A number of large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Seritage Growth Properties by 87.8% in the third quarter. BNP Paribas Arbitrage SA now owns 2,690 shares of the company’s stock valued at $136,000 after buying an additional 1,258 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in Seritage Growth Properties during the second quarter valued at about $150,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Seritage Growth Properties by 58.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,723 shares of the company’s stock valued at $189,000 after buying an additional 1,371 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Seritage Growth Properties during the third quarter valued at about $210,000. Finally, KBC Group NV purchased a new stake in Seritage Growth Properties during the third quarter valued at about $587,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
About Seritage Growth Properties
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P.
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