Seritage Growth Properties (NYSE:SRG) has been assigned a $38.00 price objective by equities researchers at Boenning Scattergood in a research report issued to clients and investors on Tuesday. The brokerage presently has a “sell” rating on the financial services provider’s stock. Boenning Scattergood’s target price would suggest a potential downside of 13.95% from the company’s current price.

SRG has been the topic of a number of other reports. BidaskClub raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Saturday, August 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Seritage Growth Properties presently has a consensus rating of “Hold” and an average price target of $46.33.

Seritage Growth Properties (NYSE:SRG) traded down 1.40% on Tuesday, hitting $43.54. 450,731 shares of the stock were exchanged. The company’s market cap is $1.48 billion. 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 is $46.34 and its 200-day moving average is $44.01.

WARNING: This report was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was illegally copied and reposted in violation of US and international trademark and copyright law. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/10/17/boenning-scattergood-analysts-give-seritage-growth-properties-srg-a-38-00-price-target.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Phocas Financial Corp. grew its stake in Seritage Growth Properties by 4.4% in the second quarter. Phocas Financial Corp. now owns 110,046 shares of the financial services provider’s stock valued at $4,616,000 after acquiring an additional 4,685 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Seritage Growth Properties by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 933,958 shares of the financial services provider’s stock worth $39,179,000 after buying an additional 161,295 shares during the period. State Street Corp boosted its position in shares of Seritage Growth Properties by 3.1% during the second quarter. State Street Corp now owns 840,425 shares of the financial services provider’s stock worth $35,257,000 after buying an additional 25,354 shares during the period. Fairholme Capital Management LLC boosted its position in shares of Seritage Growth Properties by 3.8% during the second quarter. Fairholme Capital Management LLC now owns 3,807,150 shares of the financial services provider’s stock worth $159,710,000 after buying an additional 140,200 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Seritage Growth Properties by 16.7% during the second quarter. HighTower Advisors LLC now owns 143,444 shares of the financial services provider’s stock worth $6,020,000 after buying an additional 20,483 shares during the period. Institutional investors and hedge funds own 74.89% 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.

Receive News & Ratings for Seritage Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seritage Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.