Seritage Growth Properties (NYSE:SRG) – Investment analysts at Boenning Scattergood reduced their FY2017 earnings per share estimates for shares of Seritage Growth Properties in a note issued to investors on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the financial services provider will post earnings of $2.00 per share for the year, down from their prior estimate of $2.02. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q4 2017 earnings at $0.53 EPS and Q1 2018 earnings at $0.55 EPS.
Several other research analysts also recently issued reports on SRG. Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, February 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $48.00 price objective on shares of Seritage Growth Properties in a research note on Friday, May 5th.
Shares of Seritage Growth Properties (NYSE:SRG) opened at 39.97 on Wednesday. The firm’s market cap is $1.36 billion. The stock’s 50 day moving average is $42.61 and its 200 day moving average is $44.21. Seritage Growth Properties has a 12 month low of $39.60 and a 12 month high of $53.79.
Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.61 by $0.13. Seritage Growth Properties had a negative return on equity of 2.67% and a negative net margin of 16.77%. The business had revenue of $65.40 million for the quarter, compared to analyst estimates of $67.42 million.
Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC purchased a new stake in Seritage Growth Properties during the first quarter worth $124,000. Dynamic Technology Lab Private Ltd purchased a new stake in Seritage Growth Properties during the fourth quarter worth $253,000. Gabelli Funds LLC increased its stake in Seritage Growth Properties by 9.1% in the fourth quarter. Gabelli Funds LLC now owns 6,000 shares of the financial services provider’s stock worth $256,000 after buying an additional 500 shares in the last quarter. First Trust Advisors LP increased its stake in Seritage Growth Properties by 2.6% in the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock worth $356,000 after buying an additional 212 shares in the last quarter. Finally, Pacad Investment Ltd. increased its stake in Seritage Growth Properties by 1,620.0% in the fourth quarter. Pacad Investment Ltd. now owns 8,600 shares of the financial services provider’s stock worth $367,000 after buying an additional 8,100 shares in the last quarter. 80.22% of the stock is owned by institutional investors and hedge funds.
In other news, major shareholder Bruce R. Berkowitz bought 20,000 shares of the firm’s stock in a transaction on Monday, March 20th. The stock was acquired at an average price of $44.32 per share, with a total value of $886,400.00. Following the transaction, the insider now owns 35,850 shares of the company’s stock, valued at approximately $1,588,872. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Bruce R. Berkowitz bought 123,500 shares of the firm’s stock in a transaction on Monday, May 8th. The shares were purchased at an average cost of $40.83 per share, with a total value of $5,042,505.00. Following the transaction, the insider now directly owns 35,850 shares in the company, valued at approximately $1,463,755.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 255,800 shares of company stock valued at $10,840,715 in the last three months. Insiders own 10.18% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 13th. Shareholders of record on Friday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Wednesday, June 28th. Seritage Growth Properties’s dividend payout ratio is presently -76.92%.
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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