Seritage Growth Properties (NYSE:SRG) – Analysts at Boenning Scattergood issued their Q1 2019 earnings per share estimates for shares of Seritage Growth Properties in a research note issued to investors on Tuesday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum forecasts that the financial services provider will post earnings per share of $0.54 for the quarter. Boenning Scattergood has a “Sell” rating and a $38.00 price target on the stock. Boenning Scattergood also issued estimates for Seritage Growth Properties’ Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.60 EPS and FY2019 earnings at $2.23 EPS.
Separately, Zacks Investment Research downgraded Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th.
Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). Seritage Growth Properties had a negative net margin of 17.97% and a negative return on equity of 3.33%.
Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Seritage Growth Properties by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 31,400 shares of the financial services provider’s stock worth $1,317,000 after acquiring an additional 577 shares during the period. Legal & General Group Plc lifted its position in shares of Seritage Growth Properties by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 61,793 shares of the financial services provider’s stock worth $2,592,000 after acquiring an additional 937 shares during the period. Alliancebernstein L.P. lifted its position in shares of Seritage Growth Properties by 2.1% in the 2nd quarter. Alliancebernstein L.P. now owns 48,319 shares of the financial services provider’s stock worth $2,027,000 after acquiring an additional 971 shares during the period. American International Group Inc. lifted its position in shares of Seritage Growth Properties by 8.1% in the 3rd quarter. American International Group Inc. now owns 16,838 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 1,259 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Seritage Growth Properties by 14.4% in the 2nd quarter. Voya Investment Management LLC now owns 11,486 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 1,444 shares during the period. Institutional investors own 78.00% of the company’s stock.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 120,900 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $40.18, for a total value of $4,857,762.00. Following the completion of the sale, the insider now owns 583,498 shares in the company, valued at approximately $23,444,949.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Salle Benoit La acquired 24,300 shares of Seritage Growth Properties stock in a transaction on Tuesday, October 31st. The stock was purchased at an average price of $1.45 per share, with a total value of $35,235.00. In the last 90 days, insiders have purchased 110,750 shares of company stock valued at $187,062 and have sold 1,105,700 shares valued at $44,883,455. 9.78% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Friday, December 29th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 2.45%. Seritage Growth Properties’s payout ratio is -71.94%.
Seritage Growth Properties Company Profile
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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