The Manufacturers Life Insurance Company Has $43.49 Million Stake in Seritage Growth Properties (SRG)

The Manufacturers Life Insurance Company grew its position in shares of Seritage Growth Properties (NYSE:SRG) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,074,808 shares of the financial services provider’s stock after purchasing an additional 162,113 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Seritage Growth Properties were worth $43,487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of Seritage Growth Properties by 8.1% during the third quarter. American International Group Inc. now owns 16,838 shares of the financial services provider’s stock valued at $776,000 after purchasing an additional 1,259 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Seritage Growth Properties by 14.4% during the second quarter. Voya Investment Management LLC now owns 11,486 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 1,444 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Seritage Growth Properties by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 173,788 shares of the financial services provider’s stock valued at $8,006,000 after purchasing an additional 1,557 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Seritage Growth Properties by 10.2% during the second quarter. Stifel Financial Corp now owns 19,255 shares of the financial services provider’s stock valued at $805,000 after purchasing an additional 1,785 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Seritage Growth Properties by 3.9% during the fourth quarter. Gamco Investors INC. ET AL now owns 47,900 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 1,800 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Shares of Seritage Growth Properties (SRG) opened at $42.02 on Tuesday. Seritage Growth Properties has a one year low of $37.78 and a one year high of $50.00. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1,486.92, a PE ratio of 23.34 and a beta of 0.96.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 772,200 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $40.71, for a total value of $31,436,262.00. Following the sale, the insider now directly owns 528,498 shares in the company, valued at $21,515,153.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 18,600 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $744,744.00. Following the completion of the sale, the insider now owns 568,598 shares in the company, valued at $22,766,663.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,057,400 shares of company stock worth $43,003,193. Company insiders own 9.78% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the company a “sell” rating in a research note on Tuesday, November 21st. Zacks Investment Research cut 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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Seritage Growth Properties Profile

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

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