Stock Traders Buy High Volume of Call Options on Seritage Growth Properties (SRG)

Seritage Growth Properties (NYSE:SRG) was the target of unusually large options trading activity on Monday. Stock traders bought 506 call options on the company. This is an increase of approximately 855% compared to the typical volume of 53 call options.

Shares of Seritage Growth Properties (NYSE:SRG) opened at $40.45 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.22 and a current ratio of 4.22. The company has a market cap of $1,430.00 and a PE ratio of -29.10. Seritage Growth Properties has a 1 year low of $38.49 and a 1 year high of $50.00.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, December 29th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, December 28th. Seritage Growth Properties’s payout ratio is presently -71.94%.

In related news, major shareholder Bruce R. Berkowitz sold 27,100 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $40.93, for a total transaction of $1,109,203.00. Following the completion of the sale, the insider now directly owns 583,498 shares in the company, valued at approximately $23,882,573.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bruce R. Berkowitz sold 772,200 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $40.71, for a total transaction of $31,436,262.00. Following the completion of the transaction, the insider now owns 528,498 shares of the company’s stock, valued at $21,515,153.58. The disclosure for this sale can be found here. In the last three months, insiders acquired 110,750 shares of company stock valued at $187,062 and sold 1,105,700 shares valued at $44,883,455. 9.78% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in shares of Seritage Growth Properties by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 31,400 shares of the financial services provider’s stock valued at $1,317,000 after acquiring an additional 577 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Seritage Growth Properties by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 61,793 shares of the financial services provider’s stock valued at $2,592,000 after acquiring an additional 937 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Seritage Growth Properties by 2.1% in the second quarter. Alliancebernstein L.P. now owns 48,319 shares of the financial services provider’s stock worth $2,027,000 after buying an additional 971 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Seritage Growth Properties by 8.1% in the third quarter. American International Group Inc. now owns 16,838 shares of the financial services provider’s stock worth $776,000 after buying an additional 1,259 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Seritage Growth Properties by 14.4% in the second quarter. Voya Investment Management LLC now owns 11,486 shares of the financial services provider’s stock worth $482,000 after buying an additional 1,444 shares during the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages recently issued reports on SRG. Boenning Scattergood set a $38.00 price target on shares of Seritage Growth Properties and gave the stock a “sell” rating in a research note on Friday, December 15th. Zacks Investment Research lowered shares of Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 23rd.

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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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