Seritage Growth Properties (SRG) Position Cut by Aquamarine Capital Management LLC
Aquamarine Capital Management LLC cut its position in shares of Seritage Growth Properties (NYSE:SRG) by 75.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,869 shares of the financial services provider’s stock after selling 136,131 shares during the period. Seritage Growth Properties accounts for 1.1% of Aquamarine Capital Management LLC’s holdings, making the stock its 13th biggest position. Aquamarine Capital Management LLC owned about 0.13% of Seritage Growth Properties worth $1,840,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SRG. SG Americas Securities LLC purchased a new stake in Seritage Growth Properties during the second quarter worth $117,000. ProShare Advisors LLC purchased a new stake in Seritage Growth Properties during the first quarter worth $124,000. FMR LLC purchased a new stake in Seritage Growth Properties during the first quarter worth $216,000. CIBC World Markets Inc. purchased a new stake in Seritage Growth Properties during the second quarter worth $326,000. Finally, Blair William & Co. IL purchased a new stake in Seritage Growth Properties during the second quarter worth $346,000. 74.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Boenning Scattergood reissued a “sell” rating and set a $38.00 price target on shares of Seritage Growth Properties in a report on Tuesday, June 27th. BidaskClub downgraded shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Saturday, August 12th. 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 company’s stock. The company has an average rating of “Hold” and a consensus price target of $46.33.
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Seritage Growth Properties (SRG) traded down 0.93% during trading on Friday, reaching $45.91. 124,781 shares of the company’s stock traded hands. The stock’s market cap is $1.56 billion. Seritage Growth Properties has a one year low of $39.60 and a one year high of $49.60. The firm’s 50 day moving average price is $46.10 and its 200-day moving average price is $46.10.
The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. Seritage Growth Properties’s dividend payout ratio (DPR) 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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