Seritage Growth Properties (SRG) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS
Seritage Growth Properties (NYSE:SRG) issued its quarterly earnings data on Thursday. The financial services provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06), Briefing.com reports. Seritage Growth Properties had a negative return on equity of 5.52% and a negative net margin of 31.23%. The business had revenue of $64.05 million during the quarter, compared to analysts’ expectations of $44.64 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis.
Seritage Growth Properties (SRG) traded down $0.75 on Friday, hitting $40.90. The stock had a trading volume of 1,079,026 shares, compared to its average volume of 332,398. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $1,440.26, a PE ratio of 20.41 and a beta of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.44%. Seritage Growth Properties’s dividend payout ratio is currently -42.19%.
Several research firms have recently commented on SRG. Boenning Scattergood set a $38.00 price target on Seritage Growth Properties and gave the stock a “sell” rating in a research report on Monday, July 17th. BidaskClub lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research report on Saturday, August 12th.
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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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