Seritage Growth Properties (SRG) Stake Decreased by Boston Partners
Boston Partners lowered its position in Seritage Growth Properties (NYSE:SRG) by 52.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 91,100 shares of the financial services provider’s stock after selling 101,100 shares during the period. Boston Partners owned 0.27% of Seritage Growth Properties worth $3,821,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of SRG. BlackRock Inc. increased its position in Seritage Growth Properties by 3,339.8% in the first quarter. BlackRock Inc. now owns 2,488,552 shares of the financial services provider’s stock valued at $107,381,000 after buying an additional 2,416,207 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Seritage Growth Properties by 823.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,936,642 shares of the financial services provider’s stock valued at $83,566,000 after buying an additional 1,726,892 shares in the last quarter. State Street Corp increased its position in Seritage Growth Properties by 4.4% in the first quarter. State Street Corp now owns 815,071 shares of the financial services provider’s stock valued at $35,171,000 after buying an additional 34,351 shares in the last quarter. XL Group Investments Ltd increased its position in Seritage Growth Properties by 11.9% in the first quarter. XL Group Investments Ltd now owns 682,629 shares of the financial services provider’s stock valued at $29,455,000 after buying an additional 72,790 shares in the last quarter. Finally, RBS Partners L.P. increased its position in Seritage Growth Properties by 49.0% in the first quarter. RBS Partners L.P. now owns 526,095 shares of the financial services provider’s stock valued at $22,701,000 after buying an additional 173,000 shares in the last quarter. 86.98% of the stock is owned by hedge funds and other institutional investors.
Seritage Growth Properties (NYSE SRG) opened at 46.61 on Monday. The firm’s market capitalization is $1.58 billion. Seritage Growth Properties has a 12 month low of $38.49 and a 12 month high of $51.88. The stock’s 50 day moving average price is $45.99 and its 200-day moving average price is $43.40.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. Seritage Growth Properties’s dividend payout ratio (DPR) is currently -42.19%.
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Several research firms have weighed in on SRG. 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. BidaskClub raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Saturday, August 12th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $48.00 target price on shares of Seritage Growth Properties in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.33.
In related news, major shareholder Bruce R. Berkowitz bought 31,200 shares of the stock in a transaction dated Friday, May 26th. The stock was acquired at an average price of $39.69 per share, for a total transaction of $1,238,328.00. Following the completion of the purchase, the insider now owns 35,850 shares in the company, valued at $1,422,886.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.78% of the stock is currently owned by company insiders.
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.
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