Media coverage about Seritage Growth Properties (NYSE:SRG) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Seritage Growth Properties earned a media sentiment score of 0.13 on Accern’s scale. Accern also gave news stories about the financial services provider an impact score of 45.7944407844324 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Seritage Growth Properties (NYSE:SRG) opened at 46.61 on Friday. Seritage Growth Properties has a 52 week low of $38.49 and a 52 week high of $51.88. The firm’s 50 day moving average price is $45.99 and its 200-day moving average price is $43.40. The firm’s market cap is $1.58 billion.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, September 28th. Seritage Growth Properties’s dividend payout ratio is presently -42.19%.
A number of research analysts recently weighed in on SRG shares. Zacks Investment Research upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, August 8th. BidaskClub upgraded Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 target price on shares of Seritage Growth Properties in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $46.33.
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In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz acquired 31,200 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was purchased at an average cost of $39.69 per share, for a total transaction of $1,238,328.00. Following the completion of the acquisition, the insider now owns 35,850 shares of the company’s stock, valued at approximately $1,422,886.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.78% of the company’s stock.
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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