California State Teachers Retirement System Has $1.85 Million Stake in Seritage Growth Properties (SRG)

California State Teachers Retirement System lessened its holdings in shares of Seritage Growth Properties (NYSE:SRG) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,175 shares of the financial services provider’s stock after selling 4,298 shares during the quarter. California State Teachers Retirement System owned approximately 0.11% of Seritage Growth Properties worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Alpha Windward LLC purchased a new position in shares of Seritage Growth Properties during the 3rd quarter worth $459,000. Fairholme Capital Management LLC boosted its stake in shares of Seritage Growth Properties by 3.8% during the 2nd quarter. Fairholme Capital Management LLC now owns 3,807,150 shares of the financial services provider’s stock worth $159,710,000 after acquiring an additional 140,200 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Seritage Growth Properties by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,393,206 shares of the financial services provider’s stock worth $62,958,000 after acquiring an additional 62,006 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Seritage Growth Properties by 9.8% during the 3rd quarter. TCW Group Inc. now owns 583,351 shares of the financial services provider’s stock worth $26,875,000 after acquiring an additional 52,206 shares during the last quarter. Finally, AXA boosted its stake in shares of Seritage Growth Properties by 40.9% during the 2nd quarter. AXA now owns 31,000 shares of the financial services provider’s stock worth $1,300,000 after acquiring an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 78.00% of the company’s stock.

Seritage Growth Properties (NYSE:SRG) opened at $40.37 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.22 and a current ratio of 4.22. Seritage Growth Properties has a one year low of $38.49 and a one year high of $50.00. The firm has a market cap of $1,430.00 and a price-to-earnings ratio of -29.04.

Seritage Growth Properties (NYSE:SRG) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.21). Seritage Growth Properties had a negative net margin of 17.97% and a negative return on equity of 3.33%. research analysts expect that Seritage Growth Properties will post 1.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 11th. Investors of record on Friday, December 29th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is -71.94%.

In related news, major shareholder Bruce R. Berkowitz sold 27,100 shares of Seritage Growth Properties stock in a transaction 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 transaction, the insider now owns 583,498 shares in the company, valued at approximately $23,882,573.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bruce R. Berkowitz sold 772,200 shares of Seritage Growth Properties stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $40.71, for a total transaction of $31,436,262.00. Following the transaction, the insider now owns 528,498 shares in the company, valued at approximately $21,515,153.58. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 110,750 shares of company stock worth $187,062 and have sold 1,105,700 shares worth $44,883,455. 9.78% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Boenning Scattergood set a $38.00 price target on shares of Seritage Growth Properties and gave the stock a “sell” rating in a research note on Tuesday, October 17th.

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About Seritage Growth Properties

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.

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

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