Eagle Asset Management Inc. lifted its holdings in shares of Seritage Growth Properties (NYSE:SRG) by 4.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,393,206 shares of the financial services provider’s stock after acquiring an additional 62,006 shares during the period. Eagle Asset Management Inc. owned approximately 4.09% of Seritage Growth Properties worth $62,958,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. First Manhattan Co. grew its stake in shares of Seritage Growth Properties by 0.5% during the second quarter. First Manhattan Co. now owns 14,125 shares of the financial services provider’s stock worth $592,000 after acquiring an additional 75 shares during the last quarter. Rhumbline Advisers boosted its position in Seritage Growth Properties by 1.9% in the second quarter. Rhumbline Advisers now owns 31,400 shares of the financial services provider’s stock valued at $1,317,000 after buying an additional 577 shares during the last quarter. Legal & General Group Plc boosted its position in Seritage Growth Properties by 1.5% in the second quarter. Legal & General Group Plc now owns 61,793 shares of the financial services provider’s stock valued at $2,592,000 after buying an additional 937 shares during the last quarter. Alliancebernstein L.P. boosted its position in Seritage Growth Properties by 2.1% in the second quarter. Alliancebernstein L.P. now owns 48,319 shares of the financial services provider’s stock valued at $2,027,000 after buying an additional 971 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in Seritage Growth Properties by 2.9% in the first quarter. Teachers Advisors LLC now owns 42,722 shares of the financial services provider’s stock valued at $1,843,000 after buying an additional 1,198 shares during the last quarter. Institutional investors and hedge funds own 71.60% of the company’s stock.
In related news, Director Salle Benoit La purchased 24,300 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was bought at an average cost of $1.45 per share, with a total value of $35,235.00. Also, major shareholder Bruce R. Berkowitz sold 120,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $40.18, for a total value of $4,857,762.00. Following the completion of the transaction, the insider now directly owns 583,498 shares of the company’s stock, valued at $23,444,949.64. The disclosure for this sale can be found here. Insiders acquired 110,750 shares of company stock valued at $187,062 over the last three months. 9.78% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on SRG shares. Zacks Investment Research upgraded Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a research report on Saturday, August 12th. BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the company a “sell” rating in a research report on Tuesday, August 8th.
Shares of Seritage Growth Properties (NYSE SRG) traded up $0.16 during trading hours on Monday, reaching $40.93. The company’s stock had a trading volume of 68,900 shares, compared to its average volume of 337,797. Seritage Growth Properties has a one year low of $38.49 and a one year high of $50.00. The firm has a market capitalization of $1,448.35, a P/E ratio of 22.74 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.22 and a quick ratio of 4.22.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, December 28th. Seritage Growth Properties’s payout ratio is presently -71.94%.
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Seritage Growth Properties Company Profile
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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