Eagle Asset Management Inc. Sells 2,851 Shares of Seritage Growth Properties (NYSE:SRG)

Eagle Asset Management Inc. reduced its holdings in Seritage Growth Properties (NYSE:SRG) by 0.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,493,026 shares of the financial services provider’s stock after selling 2,851 shares during the quarter. Eagle Asset Management Inc. owned 3.92% of Seritage Growth Properties worth $63,438,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Northern Trust Corp increased its stake in Seritage Growth Properties by 2.2% in the 2nd quarter. Northern Trust Corp now owns 499,988 shares of the financial services provider’s stock worth $21,479,000 after acquiring an additional 10,725 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Seritage Growth Properties by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 454,416 shares of the financial services provider’s stock worth $19,522,000 after acquiring an additional 4,406 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Seritage Growth Properties by 158.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 208,204 shares of the financial services provider’s stock worth $9,091,000 after acquiring an additional 127,519 shares during the last quarter. Lee Danner & Bass Inc. increased its stake in Seritage Growth Properties by 1.2% in the 2nd quarter. Lee Danner & Bass Inc. now owns 198,124 shares of the financial services provider’s stock worth $8,511,000 after acquiring an additional 2,342 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Seritage Growth Properties by 18.2% in the 3rd quarter. Gamco Investors INC. ET AL now owns 147,400 shares of the financial services provider’s stock worth $6,263,000 after acquiring an additional 22,700 shares during the last quarter.

Separately, ValuEngine lowered Seritage Growth Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th.

In related news, insider Edward S. Lampert purchased 38,652 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $39.24 per share, with a total value of $1,516,704.48. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.06% of the company’s stock.

Shares of NYSE SRG opened at $43.53 on Friday. The stock’s 50-day simple moving average is $43.36 and its two-hundred day simple moving average is $42.46. The company has a debt-to-equity ratio of 1.48, a quick ratio of 7.57 and a current ratio of 6.22. Seritage Growth Properties has a twelve month low of $30.60 and a twelve month high of $47.11.

Seritage Growth Properties (NYSE:SRG) last posted its earnings results on Thursday, October 31st. The financial services provider reported ($0.33) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative return on equity of 8.05% and a negative net margin of 47.87%. The firm had revenue of $47.63 million for the quarter.

Seritage Growth Properties Profile

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 206 wholly-owned properties and 26 joint venture properties totaling approximately 36.3 million square feet of space across 48 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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