Seritage Growth Properties (NYSE:SRG) – Equities researchers at Boenning Scattergood issued their Q1 2019 EPS estimates for Seritage Growth Properties in a research note issued to investors on Tuesday. Boenning Scattergood analyst F. Van. Dijkum forecasts that the financial services provider will earn $0.54 per share for the quarter. Boenning Scattergood currently has a “Sell” rating and a $38.00 target price on the stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.23 EPS.
Separately, Zacks Investment Research lowered Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, November 23rd.
Seritage Growth Properties (NYSE:SRG) traded up $0.08 on Wednesday, hitting $40.45. The stock had a trading volume of 168,646 shares, compared to its average volume of 321,556. The stock has a market capitalization of $1,430.00 and a price-to-earnings ratio of -29.10. Seritage Growth Properties has a one year low of $38.49 and a one year high of $50.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.22 and a quick ratio of 4.22.
Several hedge funds and other institutional investors have recently bought and sold shares of SRG. SG Americas Securities LLC acquired a new position in shares of Seritage Growth Properties in the second quarter worth $117,000. Schroder Investment Management Group acquired a new position in shares of Seritage Growth Properties in the third quarter worth $152,000. Janney Capital Management LLC acquired a new position in shares of Seritage Growth Properties in the third quarter worth $249,000. CIBC World Markets Inc. acquired a new position in shares of Seritage Growth Properties in the second quarter worth $326,000. Finally, Haverford Financial Services Inc. acquired a new position in shares of Seritage Growth Properties in the third quarter worth $434,000. 78.00% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Bruce R. Berkowitz sold 120,900 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $40.18, for a total value of $4,857,762.00. Following the transaction, the insider now directly owns 583,498 shares of the company’s stock, valued at $23,444,949.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 772,200 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $40.71, for a total transaction of $31,436,262.00. Following the completion of the transaction, 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. Over the last ninety days, insiders bought 110,750 shares of company stock worth $187,062 and sold 1,105,700 shares worth $44,883,455. Corporate insiders own 9.78% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is presently -71.94%.
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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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