Royce & Associates LP Buys New Holdings in Seritage Growth Properties (SRG)
Royce & Associates LP bought a new stake in Seritage Growth Properties (NYSE:SRG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 35,000 shares of the financial services provider’s stock, valued at approximately $1,468,000. Royce & Associates LP owned about 0.10% of Seritage Growth Properties at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Seritage Growth Properties in the second quarter valued at about $117,000. ProShare Advisors LLC purchased a new position in Seritage Growth Properties in the first quarter valued at about $124,000. FMR LLC purchased a new position in Seritage Growth Properties in the first quarter valued at about $216,000. Blair William & Co. IL purchased a new position in Seritage Growth Properties in the second quarter valued at about $346,000. Finally, First Trust Advisors LP raised its position in Seritage Growth Properties by 2.6% in the first quarter. First Trust Advisors LP now owns 8,246 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 212 shares during the period. 91.86% of the stock is currently owned by institutional investors.
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Several research analysts have commented on the company. Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research report on Saturday, August 12th. BidaskClub raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Finally, Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties and gave the company a “sell” rating in a research 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. Seritage Growth Properties presently has a consensus rating of “Hold” and a consensus price target of $46.33.
Seritage Growth Properties (SRG) opened at 46.75 on Friday. Seritage Growth Properties has a 52-week low of $39.60 and a 52-week high of $51.88. The stock’s market capitalization is $1.59 billion. The firm has a 50-day moving average price of $46.68 and a 200 day moving average price of $46.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 28th. Seritage Growth Properties’s dividend payout ratio is presently -42.19%.
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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