XL Group Investments Ltd continued to hold its position in Seritage Growth Properties (NYSE:SRG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 682,629 shares of the financial services provider’s stock at the end of the 2nd quarter. Seritage Growth Properties comprises about 5.7% of XL Group Investments Ltd’s holdings, making the stock its 7th largest holding. XL Group Investments Ltd owned 2.01% of Seritage Growth Properties worth $28,636,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Seritage Growth Properties by 4.1% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 23,392 shares of the financial services provider’s stock worth $1,009,000 after acquiring an additional 925 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Seritage Growth Properties during the first quarter worth $5,307,000. Morgan Stanley raised its position in shares of Seritage Growth Properties by 74.5% during the first quarter. Morgan Stanley now owns 321,946 shares of the financial services provider’s stock worth $13,892,000 after acquiring an additional 137,498 shares during the last quarter. Schwerin Boyle Capital Management Inc. raised its position in shares of Seritage Growth Properties by 1.2% during the first quarter. Schwerin Boyle Capital Management Inc. now owns 244,184 shares of the financial services provider’s stock worth $10,537,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Seritage Growth Properties by 15.5% during the first quarter. Bank of New York Mellon Corp now owns 165,944 shares of the financial services provider’s stock worth $7,161,000 after acquiring an additional 22,282 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

A number of research firms have recently weighed in on SRG. BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Saturday, August 12th. Finally, Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the stock 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 given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.33.

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Shares of Seritage Growth Properties (NYSE:SRG) traded up 0.60% during midday trading on Wednesday, hitting $46.94. The company had a trading volume of 99,763 shares. Seritage Growth Properties has a one year low of $39.60 and a one year high of $51.88. The stock’s market capitalization is $1.59 billion. The stock’s 50-day moving average price is $46.38 and its 200-day moving average price is $46.42.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 28th. Seritage Growth Properties’s payout ratio 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.

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

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