Seritage Growth Properties (NYSE:SRG) Short Interest Update
Seritage Growth Properties (NYSE:SRG) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 15,230,000 shares, a decrease of 15.7% from the June 15th total of 18,060,000 shares. Based on an average daily volume of 1,960,000 shares, the short-interest ratio is presently 7.8 days. Currently, 44.5% of the shares of the stock are sold short.
Institutional investors have recently made changes to their positions in the business. RBS Partners L.P. increased its holdings in shares of Seritage Growth Properties by 154.2% in the first quarter. RBS Partners L.P. now owns 594,253 shares of the financial services provider’s stock valued at $5,414,000 after purchasing an additional 360,521 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Seritage Growth Properties by 111.6% in the 1st quarter. Wells Fargo & Company MN now owns 410,001 shares of the financial services provider’s stock valued at $3,735,000 after purchasing an additional 216,275 shares during the period. State Street Corp boosted its stake in Seritage Growth Properties by 13.2% in the 1st quarter. State Street Corp now owns 1,578,479 shares of the financial services provider’s stock valued at $14,380,000 after purchasing an additional 184,037 shares during the period. TCW Group Inc. bought a new position in Seritage Growth Properties during the first quarter worth about $911,000. Finally, JPMorgan Chase & Co. raised its position in shares of Seritage Growth Properties by 50.0% in the first quarter. JPMorgan Chase & Co. now owns 254,556 shares of the financial services provider’s stock valued at $2,319,000 after buying an additional 84,868 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
NYSE SRG traded down $0.32 during trading on Tuesday, hitting $11.04. The stock had a trading volume of 1,192,200 shares, compared to its average volume of 1,251,018. The company has a market capitalization of $433.32 million, a PE ratio of -4.91 and a beta of 2.00. Seritage Growth Properties has a 12 month low of $5.00 and a 12 month high of $45.70. The company’s 50-day moving average price is $11.04 and its two-hundred day moving average price is $22.09. The company has a debt-to-equity ratio of 1.58, a quick ratio of 3.94 and a current ratio of 3.94.
A number of research firms have commented on SRG. ValuEngine raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. Royal Bank of Canada assumed coverage on shares of Seritage Growth Properties in a report on Wednesday, April 15th. They set a “sector perform” rating and a $16.00 target price on the stock.
Seritage Growth Properties Company 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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