Investing

Unusual Put Option Trade in Seritage Growth Properties Worth $152.93K

On March 6, 2023 at 10:00:16 ET an unusually large $152.93K block of Put contracts in Seritage Growth Properties (SRG) was bought, with a strike price of $8.00 / share, expiring in 683 days (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 1.46 sigmas above the mean, placing it in the 95.81 percentile of all recent large trades made in SRG options.

This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.

What is the Fund Sentiment?

There are 230 funds or institutions reporting positions in Seritage Growth Properties. This is a decrease of 22 owner(s) or 8.73% in the last quarter. Average portfolio weight of all funds dedicated to SRG is 0.27%, an increase of 149.74%. Total shares owned by institutions decreased in the last three months by 2.11% to 29,706K shares. The put/call ratio of SRG is 0.90, indicating a bullish outlook.

What are large shareholders doing?

Hotchkis & Wiley Capital Management holds 5,532K shares representing 9.87% ownership of the company. In it’s prior filing, the firm reported owning 5,383K shares, representing an increase of 2.69%. The firm increased its portfolio allocation in SRG by 20.42% over the last quarter.

HWSIX – Hotchkis & Wiley Small Cap Value Fund Class I holds 1,716K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 1,702K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in SRG by 12.51% over the last quarter.

FourWorld Capital Management holds 1,690K shares representing 3.02% ownership of the company.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 1,190K shares representing 2.12% ownership of the company. In it’s prior filing, the firm reported owning 1,202K shares, representing a decrease of 1.02%. The firm increased its portfolio allocation in SRG by 6.42% over the last quarter.

AVFIX – American Beacon Small Cap Value Fund Institutional Class holds 1,108K shares representing 1.98% ownership of the company. In it’s prior filing, the firm reported owning 1,063K shares, representing an increase of 4.08%. The firm decreased its portfolio allocation in SRG by 4.03% over the last quarter.

Seritage Growth Properties Background Information
(This description is provided by the company.)

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 158 wholly-owned properties and 25 unconsolidated properties totaling approximately 26.5 million square feet of space across 41 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. The Company’s mission is to create long-term value for shareholders by realizing the value of the Company’s portfolio through re-leasing, redevelopment, formation of strategic partnerships or other bespoke solutions.

This article originally appeared on Fintel

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.