Boenning Scattergood set a $38.00 target price on Seritage Growth Properties (NYSE:SRG) in a research note released on Tuesday, October 17th. The firm currently has a sell rating on the financial services provider’s stock.
Several other analysts have also issued reports on SRG. BidaskClub raised Seritage Growth Properties from a sell rating to a hold rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Seritage Growth Properties from a hold rating to a buy rating and set a $53.00 target price for the company in a research note on Saturday, August 12th.
Shares of Seritage Growth Properties (NYSE SRG) traded down $0.14 on Tuesday, hitting $40.76. The stock had a trading volume of 360,333 shares, compared to its average volume of 324,100. The company has a market capitalization of $1,450.00 and a PE ratio of 22.72. The company has a debt-to-equity ratio of 1.00, a quick ratio of 4.53 and a current ratio of 4.53. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $50.00.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is presently -71.94%.
Several large investors have recently added to or reduced their stakes in SRG. SG Americas Securities LLC purchased a new stake in shares of Seritage Growth Properties during the second quarter valued at approximately $117,000. FMR LLC purchased a new stake in shares of Seritage Growth Properties during the first quarter valued at approximately $216,000. CIBC World Markets Inc. purchased a new stake in shares of Seritage Growth Properties during the second quarter valued at approximately $326,000. Blair William & Co. IL purchased a new stake in shares of Seritage Growth Properties during the second quarter valued at approximately $346,000. Finally, First Trust Advisors LP boosted its stake in shares of Seritage Growth Properties by 2.6% during the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 212 shares during the period. 74.94% of the stock is owned by hedge funds and other institutional investors.
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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