Seritage Growth Properties (SRG) Shares Bought by State Street Corp

State Street Corp increased its position in shares of Seritage Growth Properties (NYSE:SRG) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 815,071 shares of the financial services provider’s stock after buying an additional 34,351 shares during the period. State Street Corp owned approximately 2.40% of Seritage Growth Properties worth $35,171,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in shares of Seritage Growth Properties by 2.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 9,409 shares of the financial services provider’s stock valued at $402,000 after buying an additional 250 shares in the last quarter. Dimensional Fund Advisors LP raised 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. raised 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 purchased a new position in shares of Seritage Growth Properties during the first quarter worth about $124,000. Finally, Russell Investments Group Ltd. raised 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. Institutional investors and hedge funds own 86.98% of the company’s stock.

Shares of Seritage Growth Properties (NYSE:SRG) traded down 0.41% during mid-day trading on Friday, reaching $46.61. The company’s stock had a trading volume of 330,092 shares. The firm’s 50 day moving average price is $45.99 and its 200-day moving average price is $43.40. Seritage Growth Properties has a 1-year low of $38.49 and a 1-year high of $51.88. The company’s market capitalization is $1.58 billion.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be given a $0.25 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.15%. Seritage Growth Properties’s dividend payout ratio is -42.19%.

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A number of equities analysts have weighed in on SRG shares. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price objective on shares of Seritage Growth Properties in a research note on Friday, May 5th. Zacks Investment Research upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub upgraded Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 16th. Finally, Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.33.

In related news, major shareholder Bruce R. Berkowitz bought 31,200 shares of the company’s stock in a transaction on Friday, May 26th. The shares were purchased at an average cost of $39.69 per share, for a total transaction of $1,238,328.00. Following the acquisition, the insider now owns 35,850 shares of the company’s stock, valued at approximately $1,422,886.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Company 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.

Institutional Ownership by Quarter for Seritage Growth Properties (NYSE:SRG)

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