Seritage Growth Properties Class A (SRG) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its position in Seritage Growth Properties Class A (NYSE:SRG) by 22.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 32,324 shares of the financial services provider’s stock after acquiring an additional 5,901 shares during the quarter. Rhumbline Advisers’ holdings in Seritage Growth Properties Class A were worth $1,372,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in Seritage Growth Properties Class A in the 2nd quarter worth about $235,000. Boston Partners lifted its stake in Seritage Growth Properties Class A by 49.6% in the 2nd quarter. Boston Partners now owns 80,950 shares of the financial services provider’s stock worth $3,435,000 after purchasing an additional 26,843 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Seritage Growth Properties Class A by 13.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,176 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 3,245 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Seritage Growth Properties Class A by 10.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 16,967 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 1,579 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Seritage Growth Properties Class A by 3.5% in the 1st quarter. Swiss National Bank now owns 43,838 shares of the financial services provider’s stock worth $1,558,000 after purchasing an additional 1,500 shares in the last quarter.

SRG opened at $50.00 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.51 and a current ratio of 5.51. Seritage Growth Properties Class A has a 1-year low of $34.07 and a 1-year high of $51.89. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 42.26 and a beta of 1.22.

Seritage Growth Properties Class A (NYSE:SRG) last released its earnings results on Thursday, August 2nd. The financial services provider reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). Seritage Growth Properties Class A had a negative return on equity of 2.50% and a negative net margin of 13.20%. The business had revenue of $49.27 million during the quarter. During the same quarter last year, the business earned $0.46 earnings per share. Seritage Growth Properties Class A’s quarterly revenue was down 14.9% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 11th. Shareholders of record on Friday, September 28th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, September 27th.

In other Seritage Growth Properties Class A news, Director Sharon Osberg bought 1,200 shares of the firm’s stock in a transaction on Monday, June 18th. The shares were acquired at an average cost of $44.45 per share, with a total value of $53,340.00. Following the purchase, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $111,125. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 7.09% of the company’s stock.

Separately, Zacks Investment Research lowered shares of Seritage Growth Properties Class A from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 24th.

About Seritage Growth Properties Class A

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 222 wholly-owned properties and 26 joint venture properties totaling approximately 39 million square feet of space across 49 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.

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

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