Dalal Street LLC maintained its position in shares of Seritage Growth Properties (NYSE:SRG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,113 shares of the company’s stock at the end of the fourth quarter. Seritage Growth Properties makes up 6.5% of Dalal Street LLC’s holdings, making the stock its 6th largest position. Dalal Street LLC owned approximately 1.67% of Seritage Growth Properties worth $22,598,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV bought a new position in shares of Seritage Growth Properties during the third quarter valued at approximately $587,000. Bank of New York Mellon Corp increased its position in shares of Seritage Growth Properties by 11.9% in the third quarter. Bank of New York Mellon Corp now owns 101,856 shares of the company’s stock valued at $5,162,000 after buying an additional 10,812 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Seritage Growth Properties during the third quarter valued at approximately $5,146,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Seritage Growth Properties during the third quarter valued at approximately $1,520,000. Finally, First Trust Advisors LP increased its position in shares of Seritage Growth Properties by 60.9% in the third quarter. First Trust Advisors LP now owns 11,841 shares of the company’s stock valued at $600,000 after buying an additional 4,484 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.
Shares of Seritage Growth Properties (NYSE:SRG) traded down 0.49% during trading on Tuesday, reaching $44.39. The company’s stock had a trading volume of 295,186 shares. The company has a 50 day moving average of $42.25 and a 200-day moving average of $46.06. The stock’s market cap is $1.40 billion. Seritage Growth Properties has a 12-month low of $39.60 and a 12-month high of $57.31.
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A number of analysts have recently issued reports on the company. RBC Capital Markets downgraded Seritage Growth Properties from a “top pick” rating to an “outperform” rating and dropped their price target for the company from $72.00 to $62.00 in a research report on Monday, December 5th. Royal Bank Of Canada downgraded Seritage Growth Properties from a “top pick” rating to an “outperform” rating and dropped their price target for the company from $72.00 to $62.00 in a research report on Monday, December 5th. Wells Fargo & Company assumed coverage on Seritage Growth Properties in a research report on Tuesday, October 25th. They set an “outperform” rating for the company. Boenning Scattergood reiterated an “underperform” rating on shares of Seritage Growth Properties in a research report on Tuesday, November 8th. Finally, Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Thursday, February 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $48.75.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz acquired 75,200 shares of the company’s stock in a transaction dated Tuesday, January 31st. The stock was purchased at an average price of $40.63 per share, with a total value of $3,055,376.00. Following the completion of the purchase, the insider now directly owns 35,850 shares in the company, valued at approximately $1,456,585.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bruce R. Berkowitz acquired 140,600 shares of the company’s stock in a transaction dated Friday, January 13th. The stock was acquired at an average cost of $39.92 per share, with a total value of $5,612,752.00. Following the purchase, the insider now owns 35,850 shares of the company’s stock, valued at $1,431,132. The disclosure for this purchase can be found here. Corporate insiders own 10.18% of the company’s stock.
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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