Seritage Growth Properties (NYSE:SRG) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Stockholders of record on Friday, March 30th will be paid a dividend of 0.25 per share by the financial services provider on Thursday, April 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 28th.
Seritage Growth Properties has a dividend payout ratio of 56.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Seritage Growth Properties to earn $2.14 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 46.7%.
Shares of Seritage Growth Properties (NYSE SRG) traded up $0.13 during trading hours on Friday, hitting $34.94. 60,329 shares of the stock were exchanged, compared to its average volume of 465,620. The company has a market cap of $1,276.53, a price-to-earnings ratio of -15.87 and a beta of 1.03. Seritage Growth Properties has a 1 year low of $34.07 and a 1 year 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.
A number of brokerages have recently commented on SRG. Zacks Investment Research lowered shares of Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 13th. Boenning Scattergood set a $38.00 price target on shares of Seritage Growth Properties and gave the stock a “sell” rating in a report on Friday, December 15th.
In other Seritage Growth Properties news, insider Edward S. Lampert acquired 77,638 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average price of $36.17 per share, with a total value of $2,808,166.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bruce R. Berkowitz sold 99,700 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the completion of the sale, the insider now directly owns 318,098 shares of the company’s stock, valued at approximately $13,038,837.02. The disclosure for this sale can be found here. Insiders bought a total of 78,763 shares of company stock valued at $2,848,239 in the last ninety days. 7.09% of the stock is owned by corporate insiders.
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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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