Seritage Growth Properties Class A (SRG) Holdings Increased by Wallace Capital Management Inc.

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Wallace Capital Management Inc. raised its position in Seritage Growth Properties Class A (NYSE:SRG) by 2.4% in the second quarter, Holdings Channel reports. The fund owned 501,990 shares of the financial services provider’s stock after purchasing an additional 11,871 shares during the quarter. Seritage Growth Properties Class A accounts for approximately 2.7% of Wallace Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Wallace Capital Management Inc.’s holdings in Seritage Growth Properties Class A were worth $21,299,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Xact Kapitalforvaltning AB bought a new position in shares of Seritage Growth Properties Class A in the second quarter valued at about $235,000. Boston Partners raised its position in shares of Seritage Growth Properties Class A by 49.6% in the second quarter. Boston Partners now owns 80,950 shares of the financial services provider’s stock valued at $3,435,000 after purchasing an additional 26,843 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Seritage Growth Properties Class A by 13.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,176 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 3,245 shares during the period. CDAM UK Ltd raised its position in shares of Seritage Growth Properties Class A by 23.0% in the second quarter. CDAM UK Ltd now owns 633,552 shares of the financial services provider’s stock valued at $26,882,000 after purchasing an additional 118,409 shares during the period. Finally, Swiss National Bank raised its position in shares of Seritage Growth Properties Class A by 3.5% in the first quarter. Swiss National Bank now owns 43,838 shares of the financial services provider’s stock valued at $1,558,000 after purchasing an additional 1,500 shares during the period.

In other Seritage Growth Properties Class A news, Director Sharon Osberg purchased 1,200 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 2,500 shares in the company, valued at $111,125. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.09% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on SRG shares. Zacks Investment Research lowered shares of Seritage Growth Properties Class A from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 24th. Boenning Scattergood set a $34.00 price objective on shares of Seritage Growth Properties Class A and gave the company a “sell” rating in a research report on Friday, May 18th.

NYSE:SRG traded down $0.05 during mid-day trading on Wednesday, reaching $50.50. 1,069 shares of the company’s stock were exchanged, compared to its average volume of 242,743. Seritage Growth Properties Class A has a one year low of $34.07 and a one year high of $51.89. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 34.31 and a beta of 1.21. 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 (NYSE:SRG) last released its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter. During the same quarter last year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 11th. Investors of record on Friday, September 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, September 27th. Seritage Growth Properties Class A’s dividend payout ratio is 68.03%.

Seritage Growth Properties Class A Company Profile

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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