Analysts Expect Seritage Growth Properties (SRG) to Post $0.49 EPS

Seritage Growth Properties (NYSE:SRG) has earned an average broker rating score of 4.00 (Sell) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation and one has given a hold recommendation to the company.

Brokerages have set a 1 year consensus price objective of $43.00 for the company and are expecting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Seritage Growth Properties an industry rank of 192 out of 265 based on the ratings given to related companies.

A number of research firms recently weighed in on SRG. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the stock a “sell” rating in a report on Friday. Zacks Investment Research cut shares of Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 27,100 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $40.93, for a total transaction of $1,109,203.00. Following the transaction, the insider now owns 583,498 shares of the company’s stock, valued at approximately $23,882,573.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Salle Benoit La bought 24,300 shares of the stock in a transaction on Tuesday, October 31st. The shares were bought at an average cost of $1.45 per share, for a total transaction of $35,235.00. In the last three months, insiders have acquired 110,750 shares of company stock worth $187,062 and have sold 1,105,700 shares worth $44,883,455. 9.78% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SRG. Teachers Advisors LLC increased its stake in Seritage Growth Properties by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 42,722 shares of the financial services provider’s stock valued at $1,843,000 after buying an additional 1,198 shares during the period. Dimensional Fund Advisors LP increased its stake in Seritage Growth Properties by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 59,363 shares of the financial services provider’s stock valued at $2,561,000 after buying an additional 1,800 shares during the period. First Trust Advisors LP boosted its position in shares of Seritage Growth Properties by 32.8% during the 2nd quarter. First Trust Advisors LP now owns 10,950 shares of the financial services provider’s stock valued at $459,000 after purchasing an additional 2,704 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Seritage Growth Properties by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 31,400 shares of the financial services provider’s stock valued at $1,317,000 after purchasing an additional 577 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Seritage Growth Properties during the 2nd quarter valued at about $117,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Seritage Growth Properties (NYSE:SRG) traded down $0.88 during mid-day trading on Thursday, hitting $39.74. 505,005 shares of the company were exchanged, compared to its average volume of 258,651. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.22 and a current ratio of 4.22. Seritage Growth Properties has a 1-year low of $38.49 and a 1-year high of $50.00. The firm has a market cap of $1,406.24, a PE ratio of 22.08 and a beta of 1.03.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 2.52%. Seritage Growth Properties’s payout ratio is -71.94%.

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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.

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