Seritage Growth Properties (SRG) Shares Bought by CIBC World Markets Inc.

CIBC World Markets Inc. lifted its stake in Seritage Growth Properties (NYSE:SRG) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,875 shares of the financial services provider’s stock after purchasing an additional 4,150 shares during the period. CIBC World Markets Inc.’s holdings in Seritage Growth Properties were worth $521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SRG. Schroder Investment Management Group bought a new stake in Seritage Growth Properties during the third quarter valued at approximately $152,000. Janney Capital Management LLC bought a new stake in Seritage Growth Properties during the third quarter valued at approximately $249,000. Haverford Financial Services Inc. bought a new stake in Seritage Growth Properties during the third quarter valued at approximately $434,000. SG Americas Securities LLC grew its position in Seritage Growth Properties by 238.8% during the third quarter. SG Americas Securities LLC now owns 9,428 shares of the financial services provider’s stock valued at $434,000 after buying an additional 6,645 shares during the period. Finally, Citigroup Inc. grew its position in Seritage Growth Properties by 66.8% during the second quarter. Citigroup Inc. now owns 10,736 shares of the financial services provider’s stock valued at $450,000 after buying an additional 4,300 shares during the period. Hedge funds and other institutional investors own 77.93% of the company’s stock.

Several analysts recently issued reports on SRG shares. Boenning Scattergood set a $38.00 target price on shares of Seritage Growth Properties and gave the company a “sell” rating in a research report on Tuesday, November 21st. Zacks Investment Research lowered shares of Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 23rd.

In related news, major shareholder Bruce R. Berkowitz sold 27,100 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $40.93, for a total transaction of $1,109,203.00. Following the completion of the sale, the insider now directly owns 583,498 shares in the company, valued at $23,882,573.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bruce R. Berkowitz sold 120,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $40.18, for a total transaction of $4,857,762.00. Following the sale, the insider now owns 583,498 shares of the company’s stock, valued at $23,444,949.64. The disclosure for this sale can be found here. Insiders have sold 1,205,400 shares of company stock valued at $48,970,158 over the last 90 days. 9.78% of the stock is currently owned by company insiders.

Shares of Seritage Growth Properties (NYSE:SRG) opened at $39.15 on Friday. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. The stock has a market cap of $1,406.95, a P/E ratio of -28.17 and a beta of 0.96. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $50.00.

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Seritage Growth Properties Profile

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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Institutional Ownership by Quarter for Seritage Growth Properties (NYSE:SRG)

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