Seritage Growth Properties (NYSE:SRG) received a $38.00 price target from Boenning Scattergood in a research note issued on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Boenning Scattergood’s target price suggests a potential downside of 21.37% from the stock’s previous close.

Several other brokerages also recently issued reports on SRG. BidaskClub upgraded shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of Seritage Growth Properties in a research note on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Seritage Growth Properties has an average rating of “Hold” and a consensus target price of $44.33.

Seritage Growth Properties (NYSE:SRG) traded down 0.83% during trading on Tuesday, hitting $47.93. The stock had a trading volume of 6,534 shares. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $51.88. The company’s market capitalization is $1.63 billion. The stock has a 50 day moving average price of $43.99 and a 200 day moving average price of $42.98.

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In other news, major shareholder Bruce R. Berkowitz bought 149,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost of $39.49 per share, for a total transaction of $5,895,857.00. Following the purchase, the insider now owns 35,850 shares of the company’s stock, valued at approximately $1,415,716.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bruce R. Berkowitz bought 62,400 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was purchased at an average price of $39.94 per share, with a total value of $2,492,256.00. Following the completion of the purchase, the insider now directly owns 35,850 shares in the company, valued at approximately $1,431,849. The disclosure for this purchase can be found here. Insiders purchased a total of 247,200 shares of company stock valued at $9,793,066 over the last quarter. 9.78% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of SRG. Gamco Investors INC. ET AL increased its stake in shares of Seritage Growth Properties by 25.8% in the first quarter. Gamco Investors INC. ET AL now owns 31,200 shares of the financial services provider’s stock valued at $1,346,000 after buying an additional 6,400 shares during the period. Forward Management LLC increased its stake in shares of Seritage Growth Properties by 345.0% in the first quarter. Forward Management LLC now owns 48,500 shares of the financial services provider’s stock valued at $2,093,000 after buying an additional 37,600 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Seritage Growth Properties by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 165,944 shares of the financial services provider’s stock valued at $7,161,000 after buying an additional 22,282 shares during the period. Boston Partners increased its stake in shares of Seritage Growth Properties by 3.3% in the first quarter. Boston Partners now owns 192,200 shares of the financial services provider’s stock valued at $8,294,000 after buying an additional 6,090 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of 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 valued at $356,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.

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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