BNP Paribas Arbitrage SA Increases Holdings in Seritage Growth Properties (SRG)
BNP Paribas Arbitrage SA boosted its holdings in shares of Seritage Growth Properties (NYSE:SRG) by 20.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,491 shares of the financial services provider’s stock after acquiring an additional 1,988 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Seritage Growth Properties were worth $482,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in SRG. SG Americas Securities LLC acquired a new stake in Seritage Growth Properties during the 2nd quarter worth about $117,000. ProShare Advisors LLC acquired a new stake in Seritage Growth Properties during the 1st quarter worth about $124,000. FMR LLC acquired a new stake in Seritage Growth Properties during the 1st quarter worth about $216,000. First Trust Advisors LP boosted its position in Seritage Growth Properties by 2.6% during the 1st quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock worth $356,000 after acquiring an additional 212 shares during the period. Finally, First Manhattan Co. boosted its position in Seritage Growth Properties by 0.5% during the 2nd 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 period. Hedge funds and other institutional investors own 91.86% of the company’s stock.
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Several equities research analysts have recently issued reports on SRG shares. Zacks Investment Research upgraded Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a report on Saturday, August 12th. BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Boenning Scattergood set a $38.00 price target on Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Seritage Growth Properties presently has an average rating of “Hold” and an average price target of $46.33.
Shares of Seritage Growth Properties (NYSE:SRG) opened at 46.75 on Friday. Seritage Growth Properties has a one year low of $39.60 and a one year high of $51.88. The firm’s market capitalization is $1.59 billion. The stock’s 50 day moving average price is $46.68 and its 200 day moving average price is $46.45.
The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. Seritage Growth Properties’s payout ratio is presently -42.19%.
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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