524,389 Shares in Seritage Growth Properties (SRG) Purchased by CDAM UK Ltd

CDAM UK Ltd bought a new position in shares of Seritage Growth Properties (NYSE:SRG) during the fourth quarter, Holdings Channel reports. The fund bought 524,389 shares of the financial services provider’s stock, valued at approximately $21,217,000. Seritage Growth Properties accounts for 4.8% of CDAM UK Ltd’s holdings, making the stock its 10th biggest position.

A number of other hedge funds have also recently modified their holdings of SRG. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Seritage Growth Properties by 14.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,835,452 shares of the financial services provider’s stock valued at $130,629,000 after acquiring an additional 358,962 shares during the period. FMR LLC raised its stake in shares of Seritage Growth Properties by 6,962.9% in the 2nd quarter. FMR LLC now owns 353,568 shares of the financial services provider’s stock valued at $14,833,000 after acquiring an additional 348,562 shares during the period. Governors Lane LP raised its stake in shares of Seritage Growth Properties by 86.5% in the 4th quarter. Governors Lane LP now owns 567,093 shares of the financial services provider’s stock valued at $22,945,000 after acquiring an additional 263,000 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Seritage Growth Properties in the 4th quarter valued at approximately $8,578,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Seritage Growth Properties by 17.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,074,808 shares of the financial services provider’s stock valued at $43,487,000 after acquiring an additional 162,113 shares during the period. 86.86% of the stock is currently owned by institutional investors.

Seritage Growth Properties (NYSE:SRG) opened at $41.09 on Wednesday. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1,450.00 and a P/E ratio of -29.56. Seritage Growth Properties has a twelve month low of $37.78 and a twelve month high of $50.00.

In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 18,600 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $40.04, for a total transaction of $744,744.00. Following the completion of the transaction, the insider now owns 568,598 shares in the company, valued at approximately $22,766,663.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 99,700 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the transaction, the insider now owns 318,098 shares of the company’s stock, valued at approximately $13,038,837.02. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,400 shares of company stock valued at $43,003,193 in the last quarter. 9.78% of the stock is currently owned by company insiders.

A number of research firms have recently issued reports on SRG. Zacks Investment Research raised shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 15th. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, November 21st.

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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.

Want to see what other hedge funds are holding SRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seritage Growth Properties (NYSE:SRG).

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

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