Lido Advisors LLC bought a new stake in Seritage Growth Properties (NYSE:SRG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the financial services provider’s stock, valued at approximately $202,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Schroder Investment Management Group acquired a new position in shares of Seritage Growth Properties in the third quarter valued at $152,000. Janney Capital Management LLC acquired a new position in shares of Seritage Growth Properties in the third quarter valued at $249,000. AMP Capital Investors Ltd acquired a new position in Seritage Growth Properties during the fourth quarter worth $296,000. Teacher Retirement System of Texas acquired a new position in Seritage Growth Properties during the fourth quarter worth $343,000. Finally, SG Americas Securities LLC raised its stake in Seritage Growth Properties by 238.8% during the third quarter. SG Americas Securities LLC now owns 9,428 shares of the financial services provider’s stock worth $434,000 after acquiring an additional 6,645 shares in the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.
Seritage Growth Properties (NYSE SRG) opened at $35.06 on Friday. The stock has a market capitalization of $1,293.14, a PE ratio of 23.84 and a beta of 1.03. Seritage Growth Properties has a 1-year low of $34.07 and a 1-year high of $50.00. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 1.02.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, March 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is currently -45.87%.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 99,700 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the transaction, the insider now owns 318,098 shares in the company, valued at $13,038,837.02. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Edward S. Lampert bought 77,638 shares of Seritage Growth Properties stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $36.17 per share, for a total transaction of $2,808,166.46. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 78,763 shares of company stock worth $2,848,239. Company insiders own 9.78% of the company’s stock.
Several analysts have recently commented on SRG shares. Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, November 21st. Zacks Investment Research cut Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a report 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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