Zacks: Seritage Growth Properties (SRG) Given Average Rating of “Strong Sell” by Analysts

Shares of Seritage Growth Properties (NYSE:SRG) have received an average broker rating score of 5.00 (Strong Sell) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell rating. Seritage Growth Properties’ rating score has declined by 25% in the last three months as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus target price of $38.00 for the company and are expecting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also given Seritage Growth Properties an industry rank of 228 out of 265 based on the ratings given to its competitors.

A number of equities research analysts recently weighed in on SRG shares. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 23rd. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the company a “sell” rating in a research report on Friday, December 15th.

Shares of Seritage Growth Properties (SRG) traded up $0.37 during trading hours on Monday, hitting $39.13. 666,062 shares of the company were exchanged, compared to its average volume of 457,228. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. Seritage Growth Properties has a twelve month low of $37.78 and a twelve month high of $50.00. The company has a market cap of $1,370.00 and a P/E ratio of -27.96.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 18,600 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $744,744.00. Following the completion of the transaction, the insider now directly owns 568,598 shares of the company’s stock, valued at approximately $22,766,663.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bruce R. Berkowitz sold 772,200 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $40.71, for a total transaction of $31,436,262.00. Following the transaction, the insider now directly owns 528,498 shares of the company’s stock, valued at $21,515,153.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,178,300 shares of company stock valued at $47,860,955. Insiders own 9.78% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Alpha Windward LLC acquired a new position in Seritage Growth Properties during the 3rd quarter valued at about $459,000. Eagle Asset Management Inc. boosted its stake in Seritage Growth Properties by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,393,206 shares of the financial services provider’s stock valued at $62,958,000 after purchasing an additional 62,006 shares during the period. TCW Group Inc. boosted its stake in Seritage Growth Properties by 9.8% during the 3rd quarter. TCW Group Inc. now owns 583,351 shares of the financial services provider’s stock valued at $26,875,000 after purchasing an additional 52,206 shares during the period. Legal & General Group Plc boosted its stake in Seritage Growth Properties by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 67,740 shares of the financial services provider’s stock valued at $3,121,000 after purchasing an additional 5,947 shares during the period. Finally, FMR LLC boosted its stake in Seritage Growth Properties by 6,962.9% during the 2nd quarter. FMR LLC now owns 353,568 shares of the financial services provider’s stock valued at $14,833,000 after purchasing an additional 348,562 shares during the period. 78.48% of the stock is owned by hedge funds and other institutional investors.

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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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