Alliancebernstein L.P. Acquires 971 Shares of Seritage Growth Properties (SRG)
Alliancebernstein L.P. raised its holdings in Seritage Growth Properties (NYSE:SRG) by 2.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,319 shares of the financial services provider’s stock after purchasing an additional 971 shares during the period. Alliancebernstein L.P. owned 0.14% of Seritage Growth Properties worth $2,027,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Seritage Growth Properties in the second quarter worth about $117,000. FMR LLC purchased a new position in shares of Seritage Growth Properties in the first quarter worth about $216,000. CIBC World Markets Inc. purchased a new position in shares of Seritage Growth Properties in the second quarter worth about $326,000. Blair William & Co. IL purchased a new position in shares of Seritage Growth Properties in the second quarter worth about $346,000. Finally, First Trust Advisors LP increased its stake in shares of 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 purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 74.89% of the company’s stock.
SRG has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub raised shares of Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the company a “sell” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $46.33.
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Seritage Growth Properties (NYSE:SRG) opened at 43.44 on Wednesday. The company’s 50-day moving average is $46.34 and its 200 day moving average is $44.01. The stock’s market cap is $1.47 billion. Seritage Growth Properties has a 52 week low of $38.49 and a 52 week high of $50.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, September 28th. Seritage Growth Properties’s payout ratio is -42.19%.
Seritage Growth Properties 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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