Candlewood Investment Group LP raised its position in Seritage Growth Properties (NYSE:SRG) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 155,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Seritage Growth Properties accounts for approximately 14.4% of Candlewood Investment Group LP’s holdings, making the stock its 2nd largest position. Candlewood Investment Group LP’s holdings in Seritage Growth Properties were worth $6,502,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Seritage Growth Properties by 7.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 57,563 shares of the financial services provider’s stock worth $2,458,000 after buying an additional 4,056 shares during the period. Macquarie Group Ltd. increased its position in shares of Seritage Growth Properties by 33.7% in the fourth quarter. Macquarie Group Ltd. now owns 11,500 shares of the financial services provider’s stock worth $491,000 after buying an additional 2,900 shares during the period. ProShare Advisors LLC acquired a new position in shares of Seritage Growth Properties during the first quarter worth about $124,000. Russell Investments Group Ltd. increased its position in shares of Seritage Growth Properties by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 56,547 shares of the financial services provider’s stock worth $2,439,000 after buying an additional 6,181 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Seritage Growth Properties by 99.1% in the first quarter. Wells Fargo & Company MN now owns 314,695 shares of the financial services provider’s stock worth $13,578,000 after buying an additional 156,621 shares during the period. 86.98% of the stock is owned by institutional investors and hedge funds.
Seritage Growth Properties (SRG) traded down 0.979% during midday trading on Friday, hitting $46.342. The company had a trading volume of 24,987 shares. The stock’s market cap is $1.57 billion. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $51.88. The company’s 50 day moving average is $45.86 and its 200 day moving average is $43.36.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.25 per share. The ex-dividend date 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 dividend payout ratio (DPR) is presently -42.19%.
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A number of equities analysts have recently issued reports on SRG shares. Zacks Investment Research downgraded Seritage Growth Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 target price on shares of Seritage Growth Properties in a research note on Friday, May 5th. Boenning Scattergood reissued a “sell” rating and set a $38.00 target price on shares of Seritage Growth Properties in a research note on Tuesday, June 27th. Finally, BidaskClub upgraded Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $46.33.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz purchased 31,200 shares of the business’s stock in a transaction dated Friday, May 26th. The shares were bought at an average price of $39.69 per share, with a total value of $1,238,328.00. Following the completion of the acquisition, the insider now owns 35,850 shares in the company, valued at approximately $1,422,886.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.78% of the company’s stock.
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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