Seritage Growth Properties (NYSE:SRG) Stock Forecast for 2021: Bullish Signs Point to $16 per Share

In the last trading session, 2,432,346 Seritage Growth Properties(NYSE:SRG) shares changed hands as the company’s beta touched 2.33. With the company’s per share price at $18 changed hands at $1.79 or 0.11% during last session, the market valuation stood at $1.04 Billion. SRG’s last price was a discount, traded about -119.39% off its 52-week high of $39.49. The share price had its 52-week low at $5, which suggests the last value was 72.22% up since then. When we look at Seritage Growth Properties’s average trading volume, we note the 10-day average is 847.68 Million shares, with the 3-month average coming to 734.36 Million.

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Analysts gave the Seritage Growth Properties (SRG) stock a consensus recommendation rating of Hold, calculated at a mean rating of 0. If we narrow down to specifics, the data shows that none out of 1 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 1 recommended SRG as a Hold, none felt it is a Buy and none rated the stock as Underweight. Seritage Growth Properties’s EPS for the current quarter is expected to be $0.

Instantly SRG was in green as seen at the end of in last trading. With action 11.04%, the performance over the past five days has been green. The jump to weekly highs of $18.50 on Tuesday, Jan 26 added 2.7% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.23%, with the 5-day performance at 0.17% in the green. However, in the 30-day time frame, Seritage Growth Properties (NYSE:SRG) is 0.23% up. Looking at the short shares, we see there were 13.7 Million shares sold at short interest cover period of 0.02 days.

The consensus price target for the stock as assigned by Wall Street analysts is $16, meaning bulls need a downside of -11.11% from its current market value. According to analyst projections, SRG’s forecast low is $16 with $16 as the target high. To hit the forecast high, the stock’s price needs a -11.11% upsurge from its current level, while the stock would need to tank -11.11% for it to hit the projected low.

Seritage Growth Properties (SRG) estimates and forecasts

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Seritage Growth Properties earnings to increase by 19.9%, but the outlook for the next 5-year period is at 0% per year.

Seritage Growth Properties (NYSE:SRG)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 11.11% of Seritage Growth Properties shares while 88.79% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 99.9%. There are 171 institutions holding the Seritage Growth Properties stock share, with Dalal Street, Llc the top institutional holder. As of Sep 29, 2020, the company held 12.25% of the shares, roughly 4.73 Million SRG shares worth $63.66 Million.

Hotchkis & Wiley Capital Management, LLC holds the second largest percentage of outstanding shares, with 11.45% or 4.43 Million shares worth $59.52 Million as of Sep 29, 2020.

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