Seritage Growth Properties (NYSE:SRG) Director Kenneth T. Lombard bought 575 shares of the stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $34.73 per share, with a total value of $19,969.75. Following the completion of the transaction, the director now directly owns 175 shares in the company, valued at approximately $6,077.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of SRG opened at $35.13 on Friday. The firm has a market capitalization of $1,302.36, a P/E ratio of 23.90 and a beta of 1.06. Seritage Growth Properties has a 52-week low of $34.07 and a 52-week high of $50.00. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.02.
Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Tuesday, February 27th. The financial services provider reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($1.76). The company had revenue of $53.68 million during the quarter, compared to the consensus estimate of $68.90 million. Seritage Growth Properties had a negative return on equity of 5.50% and a negative net margin of 30.60%. sell-side analysts anticipate that Seritage Growth Properties will post 1.74 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group bought a new stake in Seritage Growth Properties in the third quarter worth $152,000. Lido Advisors LLC purchased a new stake in Seritage Growth Properties in the fourth quarter worth $202,000. Janney Capital Management LLC purchased a new stake in Seritage Growth Properties in the third quarter worth $249,000. AMP Capital Investors Ltd purchased a new stake in Seritage Growth Properties in the fourth quarter worth $296,000. Finally, Teacher Retirement System of Texas purchased a new stake in Seritage Growth Properties in the fourth quarter worth $343,000. Institutional investors own 85.81% of the company’s stock.
SRG has been the subject of a number of research reports. Royal Bank of Canada reiterated a “hold” rating and set a $44.00 target price on shares of Seritage Growth Properties in a research report on Monday, March 26th. Boenning Scattergood restated a “sell” rating on shares of Seritage Growth Properties in a research report on Thursday, March 8th. Finally, Zacks Investment Research downgraded Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 13th.
ILLEGAL ACTIVITY WARNING: This piece was reported by BBNS and is owned by of BBNS. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be viewed at https://baseballnewssource.com/2018/04/07/insider-buying-seritage-growth-properties-srg-director-acquires-19969-75-in-stock/2038282.html.
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.