Zacks Investment Research upgraded shares of Seritage Growth Properties (NYSE:SRG) from a sell rating to a hold rating in a report issued on Wednesday, July 12th.

According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “

SRG has been the subject of several other reports. Boenning Scattergood restated a sell rating and issued a $38.00 price objective on shares of Seritage Growth Properties in a report on Tuesday, June 27th. Royal Bank Of Canada reiterated a hold rating and set 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 given a buy rating to the stock. Seritage Growth Properties has an average rating of Hold and a consensus price target of $44.33.

Seritage Growth Properties (NYSE:SRG) opened at 48.33 on Wednesday. The company’s 50 day moving average price is $43.99 and its 200-day moving average price is $42.98. The company’s market capitalization is $1.64 billion. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $51.88.

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

In other news, major shareholder Bruce R. Berkowitz purchased 4,300 shares of Seritage Growth Properties stock in a transaction that occurred on Friday, May 19th. The stock was bought at an average price of $38.75 per share, with a total value of $166,625.00. Following the completion of the transaction, the insider now directly owns 35,850 shares of the company’s stock, valued at $1,389,187.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bruce R. Berkowitz purchased 149,300 shares of Seritage Growth Properties stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $39.49 per share, with a total value of $5,895,857.00. Following the transaction, the insider now directly owns 35,850 shares of the company’s stock, valued at $1,415,716.50. The disclosure for this purchase can be found here. Insiders have purchased 247,200 shares of company stock valued at $9,793,066 in the last three months. 9.78% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Seritage Growth Properties during the second quarter worth approximately $117,000. FMR LLC bought a new stake in Seritage Growth Properties during the first quarter worth approximately $216,000. First Trust Advisors LP increased its stake in Seritage Growth Properties by 2.6% in the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock worth $356,000 after buying an additional 212 shares during the period. Blair William & Co. IL bought a new stake in Seritage Growth Properties during the second quarter worth approximately $346,000. Finally, State Board of Administration of Florida Retirement System increased its stake in Seritage Growth Properties by 2.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 9,409 shares of the financial services provider’s stock worth $402,000 after buying an additional 250 shares during the period. 86.27% of the stock is owned by institutional investors and hedge funds.

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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