About Seritage Growth Properties (NYSE:SRG)
Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 230 wholly-owned properties and 23 joint venture properties totaling over 39 million square feet of space across 49 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015. Pursuant to a master lease, the Company has the right to recapture certain space from Sears Holdings for retenanting or redevelopment purposes. The Company's mission is to create and own revitalized shopping, dining, entertainment and mixed-use destinations that provide enriched experience for consumers and local communities, and create long-term value for our shareholders.
Industry, Sector and Symbol
Industry Real estate
Sub-IndustryN/A
SectorFinance
SymbolNYSE:SRG
CUSIPN/A
Phone212-355-7800
Debt
Debt-to-Equity Ratio1.02%
Current Ratio5.07%
Quick Ratio5.07%
Price-To-Earnings
Trailing P/E Ratio24.33
Forward P/E Ratio20.56
P/E GrowthN/A
Sales & Book Value
Annual Sales$241.02 million
Price / Sales5.47
Cash Flow$5.3229 per share
Price / Cash6.72
Book Value$35.80 per share
Price / Book1.00
Profitability
EPS (Most Recent Fiscal Year)$1.47
Net Income$-73,750,000.00
Net Margins-30.60%
Return on Equity-5.50%
Return on Assets-2.69%
Miscellaneous
Employees56
Outstanding Shares36,890,000
Seritage Growth Properties (NYSE:SRG) Frequently Asked Questions
What is Seritage Growth Properties' stock symbol?
Seritage Growth Properties trades on the New York Stock Exchange (NYSE) under the ticker symbol "SRG."
How often does Seritage Growth Properties pay dividends? What is the dividend yield for Seritage Growth Properties?
Seritage Growth Properties declared a quarterly dividend on Tuesday, February 20th. Shareholders of record on Friday, March 30th will be paid a dividend of $0.25 per share on Thursday, April 12th. This represents a $1.00 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, March 28th. View Seritage Growth Properties' Dividend History.
How were Seritage Growth Properties' earnings last quarter?
Seritage Growth Properties (NYSE:SRG) posted its quarterly earnings results on Tuesday, February, 27th. The financial services provider reported ($1.27) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.49 by $1.76. The financial services provider had revenue of $53.68 million for the quarter, compared to analyst estimates of $68.90 million. Seritage Growth Properties had a negative net margin of 30.60% and a negative return on equity of 5.50%. View Seritage Growth Properties' Earnings History.
When is Seritage Growth Properties' next earnings date?
What price target have analysts set for SRG?
2 analysts have issued 12-month price targets for Seritage Growth Properties' stock. Their forecasts range from $38.00 to $44.00. On average, they expect Seritage Growth Properties' share price to reach $41.00 in the next year. View Analyst Ratings for Seritage Growth Properties.
What are Wall Street analysts saying about Seritage Growth Properties stock?
Here are some recent quotes from research analysts about Seritage Growth Properties stock:
- 1. According to Zacks Investment Research, "Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. " (3/13/2018)
- 2. Boenning Scattergood analysts commented, "We estimate that the deal would largely bridge our identified potential funding shortfall though proceeds could also simply be used to pay down the outstanding ESL loan. We continue to rate SRG Underperform due to the uncertainties around its biggest tenant Sears as well as the stock’s large relative NAV premium. Key Points: Sources & Uses Update – Following the announced sale of its 50% interest in five Simon Property Group Inc. (SPG-$165.63-Outperform) assets, our last analysis indicated that the company’s funding shortfall declined to approximately $80 million. Our analysis assumes that the ESL facility that officially matures at the end of 2017 is fully utilized and is rolled over indefinitely. The company has raised approximately $140 million of capital this quarter from SPG JV interest sale and preferred equity raise." (12/15/2017)
Who are some of Seritage Growth Properties' key competitors?
Some companies that are related to Seritage Growth Properties include FirstService (FSV), Urban Edge Properties (UE), Five Point (FPH), Terreno Realty (TRNO), Gazit Globe (GZT), Government Properties Income Trust (GOV), Cresud S.A.C.I.F. y A. (CRESY), Getty Realty (GTY), Forestar Group (FOR), Armada Hoffler Properties (AHH), FRP (FRPH), Altisource Residential (RESI), Ellington Financial (EFC), PICO (PICO), Innovative Industrial (IIPR) and Leju (LEJU).
Who are Seritage Growth Properties' key executives?
Seritage Growth Properties' management team includes the folowing people:
- Mr. Benjamin Schall, Pres, CEO & Trustee (Age 43)
- Mr. Brian Robert Dickman, CFO & Exec. VP (Age 42)
- Ms. Mary Rottler, Exec. VP of Leasing & Operations (Age 41)
- Mr. Matthew E. Fernand, Exec. VP, Gen. Counsel & Sec. (Age 41)
- Mr. James Edwin Bry, Exec. VP of Devel. & Construction (Age 50)
Has Seritage Growth Properties been receiving favorable news coverage?
News articles about SRG stock have been trending somewhat negative on Monday, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Seritage Growth Properties earned a coverage optimism score of -0.06 on Accern's scale. They also assigned press coverage about the financial services provider an impact score of 45.64 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company's share price in the immediate future.
How do I buy shares of Seritage Growth Properties?
Shares of SRG can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Seritage Growth Properties' stock price today?
One share of SRG stock can currently be purchased for approximately $35.77.
How big of a company is Seritage Growth Properties?
Seritage Growth Properties has a market capitalization of $1.32 billion and generates $241.02 million in revenue each year. The financial services provider earns $-73,750,000.00 in net income (profit) each year or $1.47 on an earnings per share basis. Seritage Growth Properties employs 56 workers across the globe.
How can I contact Seritage Growth Properties?
Seritage Growth Properties' mailing address is 500 FIFTH AVENUE SUITE 1530, NEW YORK NY, 10110. The financial services provider can be reached via phone at 212-355-7800 or via email at [email protected]
MarketBeat Community Rating for Seritage Growth Properties (SRG)
MarketBeat's community ratings are surveys of what our community members think about Seritage Growth Properties and other stocks. Vote "Outperform" if you believe SRG will outperform the S&P 500 over the long term. Vote "Underperform" if you believe SRG will underperform the S&P 500 over the long term. You may vote once every thirty days.
Seritage Growth Properties (NYSE:SRG) Price Target and Consensus Rating
(How are Consensus Ratings Calculated?) MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
2 Wall Street analysts have issued ratings and price targets for Seritage Growth Properties in the last 12 months. Their average twelve-month price target is $41.00, suggesting that the stock has a possible upside of 14.62%. The high price target for SRG is $44.00 and the low price target for SRG is $38.00. There are currently 1 sell rating and 1 hold rating for the stock, resulting in a consensus rating of "Hold."
| Today | 30 Days Ago | 90 Days Ago | 180 Days Ago |
| Consensus Rating: | Hold | Hold | Hold | Hold |
| Consensus Rating Score: | 1.50 | 1.50 | 1.50 | 2.00 |
| Ratings Breakdown: | 1 Sell Rating(s)
1 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) | 1 Sell Rating(s)
1 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) | 1 Sell Rating(s)
1 Hold Rating(s)
0 Buy Rating(s)
0 Strong Buy Rating(s) | 1 Sell Rating(s)
1 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $41.00 | $43.00 | $43.00 | $43.00 |
| Price Target Upside: | 14.62% upside | 19.18% upside | 5.86% upside | 2.63% downside |
Seritage Growth Properties (NYSE:SRG) Consensus Price Target History
Seritage Growth Properties (NYSE:SRG) Analyst Ratings History
Show:
(Data available from 4/23/2016 forward)
Seritage Growth Properties (NYSE:SRG) Dividend Information
Seritage Growth Properties pays an annual dividend of $1.00 per share, with a dividend yield of 2.80%. SRG's most recent quarterly dividend payment was Thursday, April 12. Seritage Growth Properties pays out 68.03% of its earnings out as a dividend.
| Most Recent Dividend: | 4/12/2018 |
| Annual Dividend: | $1.00 |
| Dividend Yield: | 2.80% |
| Dividend Growth: | 0.00% (3 Year Average) |
| Payout Ratio: | 68.03% (Trailing 12 Months of Earnings)
57.47% (Based on This Year's Estimates)
46.73% (Based on Next Year's Estimates)
|
| Frequency: | Quarterly Dividend |
Seritage Growth Properties (NYSE:SRG) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 2/20/2018 | Quarterly | $0.25 | 2.44% | 3/28/2018 | 3/30/2018 | 4/12/2018 |
| 10/25/2017 | quarterly | $0.25 | 2.37% | 12/28/2017 | 12/29/2017 | 1/11/2018 |
| 7/27/2017 | quarterly | $0.25 | 2.09% | 9/28/2017 | 9/29/2017 | 10/12/2017 |
| 4/26/2017 | quarterly | $0.25 | 2.27% | 6/28/2017 | 6/30/2017 | 7/13/2017 |
| 3/1/2017 | quarterly | $0.25 | 2.16% | 3/29/2017 | 3/31/2017 | 4/13/2017 |
| 11/2/2016 | Quarterly | $0.25 | | 12/28/2016 | 12/31/2016 | 1/12/2017 |
| 8/3/2016 | Quarterly | $0.25 | | 9/28/2016 | 9/30/2016 | 10/13/2016 |
| 5/4/2016 | Quarterly | $0.25 | | 6/28/2016 | 6/30/2016 | 7/14/2016 |
| 3/9/2016 | | $0.25 | | 3/29/2016 | 3/31/2016 | 4/14/2016 |
| 12/18/2015 | Annual | $0.50 | | 12/29/2015 | 12/31/2015 | 1/14/2016 |
(Data available from 1/1/2013 forward)
Seritage Growth Properties (NYSE SRG) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 7.09%
Institutional Ownership Percentage: 85.81%
Seritage Growth Properties (NYSE SRG) Insider Trading History
| Transaction Date | Insider Name | Title | Buy/Sell | Number of Shares | Average Share Price | Total Transaction | Shares Held After Transaction | Details |
|---|
| 3/9/2018 | Kenneth T Lombard | Director | Buy | 575 | $34.73 | $19,969.75 | 175 |  |
| 3/2/2018 | Edward S Lampert | Insider | Buy | 77,638 | $36.17 | $2,808,166.46 | | |
| 3/1/2018 | John Mcclain | Director | Buy | 550 | $36.55 | $20,102.50 | 2,350 | |
| 1/25/2018 | Bruce R Berkowitz | Major Shareholder | Sell | 99,700 | $40.99 | $4,086,703.00 | 318,098 | |
| 12/14/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 772,200 | $40.71 | $31,436,262.00 | 528,498 | |
| 12/11/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 106,900 | $40.36 | $4,314,484.00 | 528,498 | |
| 12/8/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 60,000 | $40.35 | $2,421,000.00 | 528,498 | |
| 12/6/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 18,600 | $40.04 | $744,744.00 | 568,598 | |
| 11/15/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 120,900 | $40.18 | $4,857,762.00 | 583,498 | |
| 11/13/2017 | Bruce R Berkowitz | Major Shareholder | Sell | 27,100 | $40.93 | $1,109,203.00 | 583,498 | |
| 11/8/2017 | John Mcclain | Director | Buy | 350 | $40.19 | $14,066.50 | 2,050 | |
| 11/7/2017 | Salle Benoit La | Director | Buy | 62,700 | $1.60 | $100,320.00 | | |
| 11/3/2017 | Salle Benoit La | Director | Buy | 23,400 | $1.60 | $37,440.00 | | |
| 10/31/2017 | Salle Benoit La | Director | Buy | 24,300 | $1.45 | $35,235.00 | | |
| 5/26/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 31,200 | $39.69 | $1,238,328.00 | 35,850 | |
| 5/19/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 4,300 | $38.75 | $166,625.00 | 35,850 | |
| 5/16/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 149,300 | $39.49 | $5,895,857.00 | 35,850 | |
| 5/11/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 62,400 | $39.94 | $2,492,256.00 | 35,850 | |
| 5/8/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 123,500 | $40.83 | $5,042,505.00 | 35,850 | |
| 5/1/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 20,900 | $41.50 | $867,350.00 | 35,850 | |
| 4/6/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 18,200 | $42.00 | $764,400.00 | 35,850 | |
| 3/29/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 20,000 | $42.84 | $856,800.00 | 35,850 | |
| 3/20/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 20,000 | $44.32 | $886,400.00 | 35,850 | |
| 3/13/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 53,200 | $45.55 | $2,423,260.00 | 35,850 | |
| 3/3/2017 | Renã© Lessard | Director | Buy | 50,000 | $0.22 | $11,000.00 | | |
| 2/24/2017 | Marc Filion | Director | Buy | 400 | $0.34 | $136.00 | | |
| 2/23/2017 | Marc Filion | Director | Buy | 5,500 | $0.34 | $1,870.00 | | |
| 2/10/2017 | Marc Filion | Director | Buy | 2,700 | $0.50 | $1,350.00 | | |
| 1/31/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 75,200 | $40.63 | $3,055,376.00 | 35,850 | |
| 1/13/2017 | Bruce R Berkowitz | Major Shareholder | Buy | 140,600 | $39.92 | $5,612,752.00 | 35,850 | |
| 8/31/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 200 | $44.51 | $8,902.00 | 35,850 | |
| 8/26/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 24,700 | $45.15 | $1,115,205.00 | 35,850 | |
| 8/19/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 100 | $45.88 | $4,588.00 | 35,850 | |
| 8/17/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 10,000 | $46.65 | $466,500.00 | 35,850 | |
| 8/12/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 10,000 | $47.61 | $476,100.00 | 35,850 | |
| 8/11/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 750 | $47.82 | $35,865.00 | 35,850 | |
| 7/19/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 9,648 | $48.63 | $469,182.24 | 35,850 | |
| 5/25/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 5,000 | $43.64 | $218,200.00 | 35,850 | |
| 5/19/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 37,700 | $43.66 | $1,645,982.00 | 35,850 | |
| 5/17/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 17,300 | $45.15 | $781,095.00 | 35,850 | |
| 5/10/2016 | Edward S Lampert | Insider | Sell | 9,200 | $53.63 | $493,396.00 | | |
| 4/6/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 11,150 | $51.27 | $571,660.50 | 35,850 | |
| 3/22/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 21,000 | $46.53 | $977,130.00 | 35,850 | |
| 3/17/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 30,000 | $43.55 | $1,306,500.00 | 35,850 | |
| 3/15/2016 | John Mcclain | Director | Buy | 200 | $43.48 | $8,696.00 | 200 | |
| 3/11/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 4,400 | $40.44 | $177,936.00 | 35,850 | |
| 3/9/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 164,500 | $40.76 | $6,705,020.00 | 35,850 | |
| 3/3/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 118,550 | $41.86 | $4,962,503.00 | 35,850 | |
| 3/1/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 81,950 | $41.95 | $3,437,802.50 | 35,850 | |
| 2/16/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 5,000 | $39.59 | $197,950.00 | 35,850 | |
| 2/12/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 4,350 | $39.20 | $170,520.00 | 35,850 | |
| 2/11/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 10,200 | $38.22 | $389,844.00 | 35,850 | |
| 2/10/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 4,550 | $39.28 | $178,724.00 | 35,850 | |
| 1/20/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 10,000 | $37.49 | $374,900.00 | 35,850 | |
| 1/15/2016 | Bruce R Berkowitz | Major Shareholder | Sell | 9,550 | $37.32 | $356,406.00 | 35,850 | |
| 1/14/2016 | Bruce R Berkowitz | Major Shareholder | Buy | 50,300 | $38.55 | $1,939,065.00 | 35,850 | |
| 12/9/2015 | Bruce R Berkowitz | Major Shareholder | Sell | 11,400 | $34.39 | $392,046.00 | 35,850 | |
| 12/4/2015 | Bruce R Berkowitz | Major Shareholder | Sell | 7,800 | $34.57 | $269,646.00 | 35,850 | |
| 11/23/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 3,400 | $33.58 | $114,172.00 | 35,850 | |
| 11/17/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 61,900 | $35.17 | $2,177,023.00 | 35,850 | |
| 11/13/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 36,400 | $36.81 | $1,339,884.00 | 35,850 | |
| 11/9/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 30,800 | $38.42 | $1,183,336.00 | 35,850 | |
| 11/3/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 23,600 | $42.50 | $1,003,000.00 | 35,850 | |
| 8/31/2015 | Bruce R Berkowitz | Major Shareholder | Buy | 59,500 | $39.52 | $2,351,440.00 | 35,850 | |
| 8/21/2015 | Bruce R Berkowitz | Major Shareholder | Sell | 4,550 | $41.89 | $190,599.50 | 35,850 | |
| 7/22/2015 | Bruce R Berkowitz | Major Shareholder | Sell | 125,000 | $39.85 | $4,981,250.00 | | |
| 7/17/2015 | Citadel Gp Llc | Major Shareholder | Sell | 48,253 | $37.60 | $1,814,312.80 | | |
(Data available from 1/1/2013 forward)
Seritage Growth Properties (NYSE SRG) News Headlines
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Seritage Growth Properties (NYSE:SRG) SEC Filings
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Seritage Growth Properties (NYSE:SRG) Income Statement, Balance Sheet and Cash Flow Statement
Seritage Growth Properties (NYSE SRG) Stock Chart for Monday, April, 23, 2018
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