Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 27,100 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $40.93, for a total value of $1,109,203.00. Following the sale, the insider now directly owns 583,498 shares in the company, valued at approximately $23,882,573.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Seritage Growth Properties (NYSE:SRG) traded up $0.53 during trading hours on Monday, hitting $40.83. The company’s stock had a trading volume of 366,800 shares, compared to its average volume of 413,231. Seritage Growth Properties has a 1 year low of $38.49 and a 1 year high of $50.00. The stock has a market cap of $1,444.81, a PE ratio of 22.68 and a beta of 1.06. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 annualized dividend and a dividend yield of 2.45%. Seritage Growth Properties’s payout ratio is currently -71.94%.
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Several research firms have weighed in on SRG. BidaskClub raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research raised Seritage Growth Properties from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Saturday, August 12th. Finally, Boenning Scattergood set a $38.00 price target on Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, October 17th.
Several large investors have recently added to or reduced their stakes in SRG. FMR LLC purchased a new stake in shares of Seritage Growth Properties in the 1st quarter valued at about $216,000. Teachers Advisors LLC raised its holdings in shares of Seritage Growth Properties by 2.9% in the 1st quarter. Teachers Advisors LLC now owns 42,722 shares of the financial services provider’s stock valued at $1,843,000 after acquiring an additional 1,198 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Seritage Growth Properties by 7.6% in the 1st quarter. California Public Employees Retirement System now owns 26,800 shares of the financial services provider’s stock valued at $1,156,000 after acquiring an additional 1,900 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Seritage Growth Properties by 19.1% in the 1st quarter. Geode Capital Management LLC now owns 233,227 shares of the financial services provider’s stock valued at $10,063,000 after acquiring an additional 37,381 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Seritage Growth Properties by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 59,363 shares of the financial services provider’s stock valued at $2,561,000 after acquiring an additional 1,800 shares in the last quarter. 74.98% of the stock is currently owned by hedge funds and other institutional investors.
Seritage Growth Properties Company Profile
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.
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