Seritage Growth Properties (NYSE:SRG) – Research analysts at Boenning Scattergood decreased their Q2 2018 earnings estimates for Seritage Growth Properties in a note issued to investors on Friday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the financial services provider will post earnings of $0.53 per share for the quarter, down from their prior estimate of $0.55. Boenning Scattergood has a “Sell” rating and a $38.00 price objective on the stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.53 EPS and FY2018 earnings at $2.09 EPS.
Separately, Zacks Investment Research downgraded Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 23rd.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio is presently -71.94%.
In other news, major shareholder Bruce R. Berkowitz sold 60,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $40.35, for a total transaction of $2,421,000.00. Following the sale, the insider now directly owns 528,498 shares of the company’s stock, valued at $21,324,894.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bruce R. Berkowitz sold 772,200 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $40.71, for a total value of $31,436,262.00. Following the sale, the insider now directly owns 528,498 shares in the company, valued at $21,515,153.58. The disclosure for this sale can be found here. In the last three months, insiders bought 110,750 shares of company stock worth $187,062 and sold 1,105,700 shares worth $44,883,455. 9.78% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Seritage Growth Properties during the second quarter worth $117,000. Schroder Investment Management Group acquired a new stake in shares of Seritage Growth Properties during the third quarter worth $152,000. Janney Capital Management LLC acquired a new stake in shares of Seritage Growth Properties during the third quarter worth $249,000. CIBC World Markets Inc. acquired a new stake in shares of Seritage Growth Properties during the second quarter worth $326,000. Finally, Blair William & Co. IL acquired a new stake in shares of Seritage Growth Properties during the second quarter worth $346,000. 78.00% of the stock is currently owned by institutional investors.
Seritage Growth Properties Company Profile
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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