Seritage Growth Properties (SRG) Holdings Held by Empyrean Capital Partners LP
Empyrean Capital Partners LP continued to hold its stake in Seritage Growth Properties (NYSE:SRG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,480,939 shares of the financial services provider’s stock at the close of the second quarter. Seritage Growth Properties accounts for 2.6% of Empyrean Capital Partners LP’s investment portfolio, making the stock its 7th largest holding. Empyrean Capital Partners LP owned 4.36% of Seritage Growth Properties worth $62,125,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SRG. SG Americas Securities LLC acquired a new position in Seritage Growth Properties during the second quarter valued at approximately $117,000. ProShare Advisors LLC acquired a new position in Seritage Growth Properties during the first quarter valued at approximately $124,000. FMR LLC acquired a new position in Seritage Growth Properties during the first quarter valued at approximately $216,000. CIBC World Markets Inc. acquired a new position in Seritage Growth Properties during the second quarter valued at approximately $326,000. Finally, Blair William & Co. IL acquired a new position in Seritage Growth Properties during the second quarter valued at approximately $346,000. Hedge funds and other institutional investors own 74.89% of the company’s stock.
SRG has been the subject of a number of analyst reports. Boenning Scattergood restated a “sell” rating and set a $38.00 price objective on shares of Seritage Growth Properties in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BidaskClub upgraded shares of Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $46.33.
Shares of Seritage Growth Properties (NYSE SRG) traded down 1.06% on Friday, reaching $45.85. 20,750 shares of the company’s stock were exchanged. Seritage Growth Properties has a 52-week low of $39.60 and a 52-week high of $50.06. The stock’s market cap is $1.56 billion. The company’s 50 day moving average price is $46.11 and its 200-day moving average price is $46.11.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is -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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