Traders Buy High Volume of Seritage Growth Properties Call Options (NYSE:SRG)

Seritage Growth Properties (NYSE:SRG) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 765 call options on the company. This is an increase of 1,175% compared to the average daily volume of 60 call options.

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Seritage Growth Properties by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 217,460 shares of the financial services provider’s stock worth $9,226,000 after acquiring an additional 33,290 shares during the last quarter. First Trust Advisors LP bought a new stake in Seritage Growth Properties during the 3rd quarter worth about $932,000. JPMorgan Chase & Co. boosted its stake in shares of Seritage Growth Properties by 28.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 357,542 shares of the financial services provider’s stock valued at $16,980,000 after purchasing an additional 79,575 shares during the last quarter. Swiss National Bank boosted its stake in shares of Seritage Growth Properties by 3.9% in the 3rd quarter. Swiss National Bank now owns 58,438 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Seritage Growth Properties in the 3rd quarter valued at about $168,000.

Shares of Seritage Growth Properties stock traded up $0.48 during mid-day trading on Wednesday, reaching $43.89. 157,302 shares of the stock were exchanged, compared to its average volume of 278,358. The stock has a market capitalization of $1.61 billion, a P/E ratio of 158.00 and a beta of 1.67. The company has a quick ratio of 7.59, a current ratio of 7.59 and a debt-to-equity ratio of 1.39. Seritage Growth Properties has a fifty-two week low of $30.60 and a fifty-two week high of $51.89.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Friday, March 29th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Thursday, March 28th.

Separately, ValuEngine downgraded shares of Seritage Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd.

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About Seritage Growth Properties

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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