BlackRock Inc. trimmed its stake in shares of Seritage Growth Properties (NYSE:SRG) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,341,491 shares of the financial services provider’s stock after selling 147,061 shares during the period. BlackRock Inc. owned about 6.90% of Seritage Growth Properties worth $98,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its holdings in Seritage Growth Properties by 74.5% during the first quarter. Morgan Stanley now owns 321,946 shares of the financial services provider’s stock worth $13,892,000 after acquiring an additional 137,498 shares during the period. Eagle Asset Management Inc. grew its holdings in Seritage Growth Properties by 38.0% during the second quarter. Eagle Asset Management Inc. now owns 1,331,200 shares of the financial services provider’s stock worth $55,843,000 after acquiring an additional 366,325 shares during the period. Bank of New York Mellon Corp grew its holdings in Seritage Growth Properties by 15.5% during the first quarter. Bank of New York Mellon Corp now owns 165,944 shares of the financial services provider’s stock worth $7,161,000 after acquiring an additional 22,282 shares during the period. JPMorgan Chase & Co. grew its holdings in Seritage Growth Properties by 28.1% during the first quarter. JPMorgan Chase & Co. now owns 259,233 shares of the financial services provider’s stock worth $11,186,000 after acquiring an additional 56,830 shares during the period. Finally, AXA grew its holdings in Seritage Growth Properties by 40.9% during the second quarter. AXA now owns 31,000 shares of the financial services provider’s stock worth $1,300,000 after acquiring an additional 9,000 shares during the period. 74.89% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Seritage Growth Properties (SRG) opened at 42.51 on Friday. The firm’s market capitalization is $1.44 billion. Seritage Growth Properties has a one year low of $38.49 and a one year high of $50.00. The firm has a 50-day moving average price of $45.75 and a 200 day moving average price of $44.01.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Stockholders 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 dividend yield of 2.35%. The ex-dividend date was Thursday, September 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is -42.19%.

SRG has been the topic of several analyst reports. Boenning Scattergood reaffirmed a “sell” rating and set a $38.00 target price on shares of Seritage Growth Properties in a report on Tuesday, June 27th. BidaskClub raised Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Zacks Investment Research raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Seritage Growth Properties has an average rating of “Hold” and a consensus price target of $46.33.

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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