Rhumbline Advisers Has $1.37 Million Holdings in Seritage Growth Properties Class A (SRG)

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Rhumbline Advisers boosted its stake in shares of Seritage Growth Properties Class A (NYSE:SRG) by 22.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 32,324 shares of the financial services provider’s stock after purchasing an additional 5,901 shares during the period. Rhumbline Advisers owned approximately 0.09% of Seritage Growth Properties Class A worth $1,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SRG. SG Americas Securities LLC acquired a new stake in shares of Seritage Growth Properties Class A during the 1st quarter valued at about $125,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Seritage Growth Properties Class A during the 2nd quarter valued at about $235,000. GSA Capital Partners LLP acquired a new stake in shares of Seritage Growth Properties Class A during the 1st quarter valued at about $217,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Seritage Growth Properties Class A by 231.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,918 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 5,528 shares during the period. Finally, Haverford Trust Co. grew its position in shares of Seritage Growth Properties Class A by 19.7% during the 1st quarter. Haverford Trust Co. now owns 15,280 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 2,515 shares during the period.

NYSE:SRG opened at $50.00 on Friday. Seritage Growth Properties Class A has a 52 week low of $34.07 and a 52 week high of $51.89. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.51 and a current ratio of 5.51. The stock has a market cap of $1.89 billion, a PE ratio of 42.26 and a beta of 1.22.

Seritage Growth Properties Class A (NYSE:SRG) last posted its earnings results on Thursday, August 2nd. The financial services provider reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.21). Seritage Growth Properties Class A had a negative net margin of 13.20% and a negative return on equity of 2.50%. The business had revenue of $49.27 million for the quarter. During the same quarter in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter 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. Stockholders 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 dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 27th.

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

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

Seritage Growth Properties Class A 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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