41.28 0.00 (0.00%)
After hours: 4:53PM EDT
|Bid||41.13 x 4000|
|Ask||41.18 x 1000|
|Day's Range||40.77 - 41.45|
|52 Week Range||30.60 - 51.89|
|Beta (3Y Monthly)||1.74|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 31, 2019 - Aug 5, 2019|
|Forward Dividend & Yield||1.00 (2.39%)|
|1y Target Est||45.00|
Moody's rating action reflects a base expected loss of 7.1% of the current pooled balance, compared to 5.2% at Moody's last review. Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.
Seritage Growth Properties' plan for a major reskinning of the former Sears building at 9701 Metcalf Ave. in Overland Park and additional development of the rest of the 18.82-acre site has hit another delay.
The ratings on eight P&I classes were affirmed because the transaction's key metrics, including Moody's loan-to-value (LTV) ratio, Moody's stressed debt service coverage ratio (DSCR) and the transaction's Herfindahl Index (Herf), are within acceptable ranges. Moody's rating action reflects a base expected loss of 4.5% of the current pooled balance, compared to 2.6% at Moody's last review. Moody's base expected loss plus realized losses is now 3.7% of the original pooled balance, compared to 2.5% at the last review.
Rating Action: Moody's affirms ten classes of MSC 2011- C3. Global Credit Research- 27 Jun 2019. Approximately $755 million of structured securities affected.
The Sears spinoff is making progress on some of its larger-scale redevelopment opportunities, which take longer to pull off but have greater upside.
Dividend paying stocks like Seritage Growth Properties (NYSE:SRG) tend to be popular with investors, and for good...
The developer behind Esplanade at Aventura has signed five new restaurant concepts as future tenants at the open-air development. The fifth is a new food hall. The restaurants coming to Esplanade at Aventura: Both Carolo and Blanco Bistro have established locations in Mexico, but have yet to branch out from the country until now.
There's a reason why Canopy Growth Corporation (NYSE:CGC) could be one of the first marijuana stocks to be a real winner in the race to profitability. The reason is simply that Canopy is forward thinking with its various moves. Initiatives like its mega-sized deal with beverage giant Constellation Brands (NYSE:STZ), partnerships into the burgeoning pet care market for CBD and its recent buyout of U.S.-focused Acreage Holdings have made CGC stock the king of the marijuana hill.Source: Shutterstock All have been designed to take CGC-grown products and get them into as many users as possible. They're also great for providing Canopy with plenty of extra funding. Which is why its latest move may be absolutely perfect for investors.Canopy is seriously considering placing its greenhouse assets into a real estate investment trust (REIT).InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe benefits to doing that could be a huge win for both CGC, its shareholders and potentially the shareholders of the REIT itself. In the end, it's just another example of how Canopy Growth could be the only marijuana stock you need to own. CGC Stock Looks to Monetize Its AssetsThanks to their vice-like nature, cannabis companies have had to get creative to when it comes to raising capital. Most banks won't lend to them and it's only recently that a few of them have been able to tap the debt markets with any success. And here, none have issued a straight corporate bond, they've all been convertible or hybrid debt deals. For Canopy, this has meant running a pretty conservative ship with low leverage and high assets on its balance sheet. * 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever In order to fund its expansion efforts, it has turned to deals like its partnership with STZ. That gave CGC a cool $4 billion to play with, while Constellation gets access to Canopy's products for sale. But there are other ways to get needed funding, especially if you are asset rich.To that end, CGC may be looking into a vehicle to hold its vast portfolio of greenhouses, processing facilities and other real estate assets. We're talking about a REIT.In essence, REITs are a specialized tax structure designed to hold real estate assets. As long as they pay out 90% of their cash flows as dividends to investors, they are allowed to avoid the double taxation on dividends. Investors love them as this tax structure allows REITs to yield in the 4% to 7% range. Their cash flows are secured by the rents paid by their tenants. It turns out a greenhouse to grow marijuana is really no different than an office building or apartment. Someone rents the building and then cuts the landlord a check every month.For CGC, this could be a great way to monetize its more than 5 million square feet of growing space. Canopy would mostly do a sale-leaseback transaction. This transaction would provide Canopy a huge initial cash infusion as it places these warehouses into a REIT and sells off the shares to the public. It would then rent its warehouses back from the REIT.This sort of deal to monetize a firm's vast real estate assets is actually pretty commonplace. Troubled retailer Sears spun-out its holdings as Seritage Growth Properties (NYSE:SRG) to raise cash. Darden Restaurants (NYSE:DRI) placed roughly 240 of its restaurant sites Four Corners Properties Trust (NASDAQ:FCPT).And while tax-free REIT spin-offs are now verboten by the IRS, they can happen in Canada and sale-leasebacks are still cool here in the U.S. In fact, CGC buyout target Acreage Holdings recently agreed to sell cannabis REIT GreenAcerage Real Estate. Incidentally, Acreage -- and now Canopy -- owns a 20% stake in GreenAcerage. CGC Stock Investors Would Win As WellBut it's not just Canopy Growth that benefits in this sort of transaction. Investors will benefit as well.For one thing, a REIT spin-off/sale brings in plenty of cash to CGC for expansion efforts. The firm estimates that the assets could be worth a "couple billion dollars." Canopy is looking to expand into the U.S. and Europe as the legalization of cannabis comes to fruition. That includes building out at least seven hemp processing facilities within the next 12 months. This will allow it to build scale, expand geographically and actually make the most out of its deals with Constellation and others. After all, it needs to the pot to sell. * 7 U.S. Stocks to Buy With Limited Trade War Exposure Secondly, the spinout itself could be very beneficial to investors. Last summer, CGC completed the spin-off of its venture capital investment arm: Canopy Rivers Corporation. That spin-off has and did very well after being cut free and CGC was able to raise some much-needed capital. However, a Canopy REIT could do much better. Just look at the returns for cannabis-REIT Innovative Industrial Properties Inc (NYSE:IIPR). It has doubled since the start of the year and pays a good 1.83% yield. There's no reason to believe that a REIT by the marijuana stock wouldn't have those kinds of returns behind it. CGC Continues to Be At the ForefrontNow, Canopy hasn't officially announced that it's doing this, but it has mentioned it now twice this year alone. And considering that Acreage Holdings has already undergone a similar transaction and Canopy has done spin-outs before, there's a good chance that CGC will do this sooner than later. When it does, it'll be another prime example of why the firm is one of the best in the marijuana sector.It keeps making forward-looking moves that will benefit investors for years to come. Its REIT plans are just another example of this and CGC stock remains a great long-term buy.At the time of writing, Aaron Levitt did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post This Is Why a REIT Could Be Great for Canopy Growth Stock appeared first on InvestorPlace.
Seritage Growth Properties NYSE:SRGView full report here! Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is high * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | NegativeShort interest is high for SRG with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting SRG. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding SRG are favorable, with net inflows of $1.07 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Pinstripes has already established itself in seven different states and will come to Florida in 2020.
The CEO of Seritage Growth Properties (NYSE:SRG) is Ben Schall. First, this article will compare CEO compensation with...
The Sears building at Valley View mall was demolished Thursday to kick off a 22-acre development that will be a part of the 430-acre Dallas Midtown mixed-use project along Interstate 635.
NEW YORK (AP) _ Seritage Growth Properties (SRG) on Thursday reported a loss in funds from operations in its first quarter, after reporting a profit in the same period a year earlier. The real estate investment trust, based in New York, said it had a funds from operations loss of $5.1 million, or 9 cents per share, in the period. Funds from operations is a closely watched measure in the REIT industry.
Like everyone else, elite investors make mistakes. Some of their top consensus picks, such as Amazon, Facebook and Alibaba, have not done well in Q4 due to various reasons. Nevertheless, the data show elite investors' consensus picks have done well on average over the long-term. The top 15 S&P 500 stocks among hedge funds at […]
The former Sears building at 97th Street and Metcalf Avenue could see new life under a revised plan submitted this month by Seritage Growth Properties. However, a proposed movie theater is no longer part of the redevelopment project.
Seritage Growth Properties (SRG) announced today that Allison Thrush has been appointed to the Company’s Board of Trustees as an independent trustee. Ms. Thrush will serve on the Board’s Audit Committee. “We are very pleased to welcome Allison Thrush to the Board of Trustees of Seritage,” stated Edward S. Lampert, Chairman of the Board of Trustees of Seritage Growth Properties.
Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. The lawsuit, made public on Thursday, was filed by the restructuring team winding down Sears' bankruptcy estate and suing on behalf of creditors, many of whom blame Lampert for the retailer's downfall. The complaint seeks the repayment of "billions of dollars of value looted from Sears," including while it was in what Lampert would later call a "death spiral" where it sold core assets to meet daily expenses with no real plan for becoming profitable.
Seritage Growth Properties announced today that it will release its first quarter 2019 financial and operating results in a press release on Thursday, May 2, 2019, after the market close.
Anyone researching Seritage Growth Properties (NYSE:SRG) might want to consider the historical volatility of the share price. Modern finance theory considers volatility to be a measure of risk, and there are two main types of price...
Seritage Growth Properties (SRG) is a real estate investment trust that was created in July 2015, when Sears Holdings (SHLDQ) spun off some of its properties. Warning! GuruFocus has detected 2 Warning Sign with SRG. The company's goal is quite straightforward: unlock the value of the real estate by renting the space previously occupied by Sears at higher rates to third-party tenants.