BNP Paribas Arbitrage SA Has $136,000 Stake in Seritage Growth Properties (SRG)
BNP Paribas Arbitrage SA raised its position in Seritage Growth Properties (NYSE:SRG) by 87.8% during the third quarter, Holdings Channel reports. The fund owned 2,690 shares of the company’s stock after buying an additional 1,258 shares during the period. BNP Paribas Arbitrage SA’s holdings in Seritage Growth Properties were worth $136,000 as of its most recent SEC filing.
Separately, Macquarie Group Ltd. acquired a new position in Seritage Growth Properties during the second quarter worth approximately $150,000. Institutional investors and hedge funds own 75.88% of the company’s stock.
Seritage Growth Properties (NYSE:SRG) opened at 48.69 on Thursday. The company’s market capitalization is $1.54 billion. The company’s 50-day moving average is $48.34 and its 200 day moving average is $49.30. Seritage Growth Properties has a one year low of $33.34 and a one year high of $57.31.
Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Seritage Growth Properties had a negative net margin of 15.85% and a negative return on equity of 2.43%. Analysts predict that Seritage Growth Properties will post $2.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.05%. Seritage Growth Properties’s dividend payout ratio is currently -82.64%.
A number of equities analysts have recently commented on SRG shares. Royal Bank Of Canada started coverage on shares of Seritage Growth Properties in a report on Tuesday, September 6th. They set a “top pick” rating and a $72.00 price objective for the company. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, RBC Capital Markets started coverage on shares of Seritage Growth Properties in a report on Tuesday, September 6th. They set a “top pick” rating and a $72.00 price objective for the company.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 9,648 shares of the company’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $48.63, for a total value of $469,182.24. Following the transaction, the insider now directly owns 35,850 shares in the company, valued at $1,743,385.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Bruce R. Berkowitz acquired 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was bought at an average price of $47.61 per share, for a total transaction of $476,100.00. Following the completion of the acquisition, the insider now owns 35,850 shares of the company’s stock, valued at $1,706,818.50. The disclosure for this purchase can be found here. 10.18% of the stock is currently owned by company insiders.
Seritage Growth Properties Company Profile
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P.
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