Seritage Growth Properties (SRG) Cut to “Hold” at Zacks Investment Research
Seritage Growth Properties (NYSE:SRG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “
Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.33.
Shares of Seritage Growth Properties (SRG) traded down 0.40% during trading on Wednesday, reaching $45.31. 57,273 shares of the company traded hands. Seritage Growth Properties has a 52 week low of $38.49 and a 52 week high of $50.00. The company’s 50-day moving average price is $46.05 and its 200-day moving average price is $46.05. The company’s market capitalization is $1.27 billion.
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Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Seritage Growth Properties during the 2nd quarter valued at approximately $117,000. FMR LLC purchased a new stake in Seritage Growth Properties during the 1st quarter valued at approximately $216,000. CIBC World Markets Inc. purchased a new stake in Seritage Growth Properties during the 2nd quarter valued at approximately $326,000. Blair William & Co. IL purchased a new stake in Seritage Growth Properties during the 2nd quarter valued at approximately $346,000. Finally, First Trust Advisors LP grew its holdings in Seritage Growth Properties by 2.6% during the 1st 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 in the last quarter. 74.89% of the stock is owned by institutional investors and hedge funds.
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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