Q1 2018 EPS Estimates for Seritage Growth Properties (SRG) Increased by Analyst
Seritage Growth Properties (NYSE:SRG) – Analysts at Boenning Scattergood raised their Q1 2018 earnings estimates for Seritage Growth Properties in a note issued to investors on Monday. Boenning Scattergood analyst F. Van. Dijkum now expects that the brokerage will post earnings of $0.47 per share for the quarter, up from their previous forecast of $0.38. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q2 2018 earnings at $0.48 EPS.
Several other equities analysts have also recently weighed in on SRG. Zacks Investment Research raised shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th. RBC Capital Markets assumed coverage on shares of Seritage Growth Properties in a research note on Tuesday, September 6th. They issued a “top pick” rating and a $72.00 target price for the company. Finally, Royal Bank Of Canada assumed coverage on shares of Seritage Growth Properties in a research note on Tuesday, September 6th. They issued a “top pick” rating and a $72.00 target price for the company.
Shares of Seritage Growth Properties (NYSE:SRG) traded up 0.31% during midday trading on Tuesday, reaching $48.14. 151,862 shares of the company’s stock traded hands. The stock’s market cap is $1.52 billion. The stock has a 50 day moving average of $47.36 and a 200-day moving average of $48.64. Seritage Growth Properties has a 52-week low of $33.34 and a 52-week high of $57.31.
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Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Seritage Growth Properties had a negative net margin of 15.85% and a negative return on equity of 2.43%.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, September 28th. Seritage Growth Properties’s dividend payout ratio is -82.64%.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz purchased 10,000 shares of the business’s stock in a transaction on Friday, August 12th. The stock was acquired at an average price of $47.61 per share, with a total value of $476,100.00. Following the acquisition, the insider now directly owns 35,850 shares of the company’s stock, valued at approximately $1,706,818.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bruce R. Berkowitz sold 9,648 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $48.63, for a total value of $469,182.24. Following the sale, the insider now directly owns 35,850 shares of the company’s stock, valued at approximately $1,743,385.50. The disclosure for this sale can be found here. Company insiders own 10.18% of the company’s stock.
A hedge fund recently bought a new stake in Seritage Growth Properties stock. Macquarie Group Ltd. purchased a new stake in shares of Seritage Growth Properties (NYSE:SRG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the company’s stock, valued at approximately $150,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
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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