Deutsche Bank AG Has $3.48 Million Stake in Seritage Growth Properties (SRG)

Deutsche Bank AG lifted its position in Seritage Growth Properties (NYSE:SRG) by 65.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,950 shares of the financial services provider’s stock after buying an additional 34,096 shares during the quarter. Deutsche Bank AG owned about 0.24% of Seritage Growth Properties worth $3,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. American International Group Inc. lifted its stake in shares of Seritage Growth Properties by 8.1% in the third quarter. American International Group Inc. now owns 16,838 shares of the financial services provider’s stock worth $776,000 after buying an additional 1,259 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Seritage Growth Properties by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 173,788 shares of the financial services provider’s stock worth $8,006,000 after buying an additional 1,557 shares during the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Seritage Growth Properties by 3.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 47,900 shares of the financial services provider’s stock worth $1,938,000 after buying an additional 1,800 shares during the last quarter. Haverford Financial Services Inc. lifted its stake in shares of Seritage Growth Properties by 27.6% in the fourth quarter. Haverford Financial Services Inc. now owns 12,011 shares of the financial services provider’s stock worth $485,000 after buying an additional 2,600 shares during the last quarter. Finally, Levin Capital Strategies L.P. lifted its stake in shares of Seritage Growth Properties by 12.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 24,270 shares of the financial services provider’s stock worth $982,000 after buying an additional 2,750 shares during the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.

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A number of equities analysts recently issued reports on SRG shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $44.00 target price on shares of Seritage Growth Properties in a research report on Monday, March 26th. Zacks Investment Research raised shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research report on Thursday, February 15th. Finally, Boenning Scattergood reaffirmed a “sell” rating on shares of Seritage Growth Properties in a research report on Thursday, March 8th.

Shares of SRG stock opened at $36.00 on Friday. Seritage Growth Properties has a 1 year low of $34.07 and a 1 year high of $50.00. The firm has a market cap of $1,337.41, a P/E ratio of 24.49 and a beta of 1.06. The company has a debt-to-equity ratio of 1.02, a quick ratio of 5.07 and a current ratio of 5.07.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Tuesday, February 27th. The financial services provider reported ($1.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($1.76). Seritage Growth Properties had a negative return on equity of 5.50% and a negative net margin of 30.60%. The company had revenue of $53.68 million for the quarter, compared to the consensus estimate of $68.90 million. analysts predict that Seritage Growth Properties will post 1.74 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 12th. Investors of record on Friday, March 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Wednesday, March 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is currently 68.03%.

In other Seritage Growth Properties news, insider Edward S. Lampert purchased 77,638 shares of the stock in a transaction on Friday, March 2nd. The shares were purchased at an average price of $36.17 per share, with a total value of $2,808,166.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Bruce R. Berkowitz sold 99,700 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the completion of the sale, the insider now directly owns 318,098 shares in the company, valued at approximately $13,038,837.02. The disclosure for this sale can be found here. Insiders have purchased 78,763 shares of company stock worth $2,848,239 in the last ninety days. 7.09% of the stock is currently owned by insiders.

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About Seritage Growth Properties

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 230 wholly-owned properties and 23 joint venture properties totaling over 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 (NYSE:SRG)

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