Css LLC Il continued to hold its stake in Seritage Growth Properties (NYSE:SRG) during the third quarter, Holdings Channel reports. The firm owned 7,662 shares of the company’s stock at the end of the third quarter. Css LLC Il’s holdings in Seritage Growth Properties were worth $388,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in Seritage Growth Properties by 87.8% in the third quarter. BNP Paribas Arbitrage SA now owns 2,690 shares of the company’s stock worth $136,000 after buying an additional 1,258 shares during the period. Macquarie Group Ltd. acquired a new position in Seritage Growth Properties during the second quarter worth $150,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Seritage Growth Properties by 58.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,723 shares of the company’s stock worth $189,000 after buying an additional 1,371 shares during the period. SG Americas Securities LLC acquired a new position in Seritage Growth Properties during the third quarter worth $210,000. Finally, KBC Group NV acquired a new position in Seritage Growth Properties during the third quarter worth $587,000. 78.58% of the stock is owned by institutional investors and hedge funds.
Shares of Seritage Growth Properties (NYSE:SRG) traded up 0.16% during trading on Wednesday, reaching $42.88. The company had a trading volume of 499,762 shares. The stock’s 50-day moving average price is $44.22 and its 200-day moving average price is $46.95. The company’s market capitalization is $1.35 billion. Seritage Growth Properties has a 52 week low of $36.28 and a 52 week high of $57.31.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 12th. Shareholders of record on Saturday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. Seritage Growth Properties’s payout ratio is currently -76.92%.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered Seritage Growth Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, January 10th. RBC Capital Markets lowered Seritage Growth Properties from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $62.00 to $48.00 in a research note on Tuesday, January 3rd. Royal Bank Of Canada lowered Seritage Growth Properties from a “top pick” rating to an “outperform” rating and dropped their price target for the company from $72.00 to $62.00 in a research note on Monday, December 5th. Boenning Scattergood reissued an “underperform” rating on shares of Seritage Growth Properties in a research note on Tuesday, November 8th. Finally, Wells Fargo & Company began coverage on Seritage Growth Properties in a research note on Tuesday, October 25th. They set an “outperform” rating for the company. 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 company. The stock presently has an average rating of “Hold” and a consensus price target of $51.25.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz purchased 140,600 shares of the business’s stock in a transaction that occurred on Friday, January 13th. The stock was purchased at an average price of $39.92 per share, for a total transaction of $5,612,752.00. Following the purchase, the insider now directly owns 35,850 shares in the company, valued at $1,431,132. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.18% of the stock is owned by corporate insiders.
About Seritage Growth Properties
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P.
Want to see what other hedge funds are holding SRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seritage Growth Properties (NYSE:SRG).