Parametric Portfolio Associates LLC raised its position in Seritage Growth Properties (NYSE:SRG) by 6.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 44,318 shares of the financial services provider’s stock after buying an additional 2,860 shares during the period. Parametric Portfolio Associates LLC owned 0.13% of Seritage Growth Properties worth $1,912,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SRG. IndexIQ Advisors LLC boosted its position in shares of Seritage Growth Properties by 23.4% in the first quarter. IndexIQ Advisors LLC now owns 26,943 shares of the financial services provider’s stock worth $1,163,000 after buying an additional 5,111 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Seritage Growth Properties by 4.1% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,392 shares of the financial services provider’s stock worth $1,009,000 after buying an additional 925 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Seritage Growth Properties by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 14,402 shares of the financial services provider’s stock worth $621,000 after buying an additional 786 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Seritage Growth Properties by 99.1% in the first quarter. Wells Fargo & Company MN now owns 314,695 shares of the financial services provider’s stock worth $13,578,000 after buying an additional 156,621 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Seritage Growth Properties by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 56,547 shares of the financial services provider’s stock worth $2,439,000 after buying an additional 6,181 shares during the last quarter. Institutional investors own 86.27% of the company’s stock.

Seritage Growth Properties (SRG) traded down 1.33% during trading on Monday, hitting $48.33. 261,673 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $43.99 and its 200 day moving average price is $42.98. The firm’s market cap is $1.64 billion. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $51.88.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Thursday, May 4th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.13. Seritage Growth Properties had a negative return on equity of 5.43% and a negative net margin of 31.23%. The company had revenue of $65.40 million for the quarter, compared to analyst estimates of $67.42 million. Equities analysts forecast that Seritage Growth Properties will post $2.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 28th. Seritage Growth Properties’s dividend payout ratio is presently -42.19%.

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Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Boenning Scattergood reaffirmed a “sell” rating and issued a $38.00 target price on shares of Seritage Growth Properties in a report on Tuesday, June 27th. BidaskClub cut shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 target price on shares of Seritage Growth Properties in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $44.33.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz acquired 149,300 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was purchased at an average price of $39.49 per share, for a total transaction of $5,895,857.00. Following the completion of the transaction, the insider now owns 35,850 shares of the company’s stock, valued at approximately $1,415,716.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bruce R. Berkowitz acquired 4,300 shares of the business’s stock in a transaction on Friday, May 19th. The stock was acquired at an average price of $38.75 per share, with a total value of $166,625.00. Following the transaction, the insider now directly owns 35,850 shares of the company’s stock, valued at approximately $1,389,187.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 247,200 shares of company stock valued at $9,793,066. 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.

Institutional Ownership by Quarter for Seritage Growth Properties (NYSE:SRG)

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