Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 18,600 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $40.04, for a total transaction of $744,744.00. Following the sale, the insider now owns 568,598 shares in the company, valued at $22,766,663.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Seritage Growth Properties (NYSE:SRG) traded up $0.32 during mid-day trading on Friday, reaching $40.50. 246,900 shares of the company’s stock traded hands, compared to its average volume of 336,832. 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 $1,430.00 and a P/E ratio of 22.04. Seritage Growth Properties has a 52-week low of $38.49 and a 52-week high of $50.00.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 annualized dividend and a yield of 2.47%. Seritage Growth Properties’s dividend payout ratio (DPR) is currently -71.94%.
Several analysts have commented on SRG shares. Boenning Scattergood set a $38.00 target price on shares of Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, November 21st. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th.
A number of hedge funds have recently made changes to their positions in SRG. Hotchkis & Wiley Capital Management LLC raised its holdings in Seritage Growth Properties by 27.9% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,476,490 shares of the financial services provider’s stock worth $103,889,000 after buying an additional 539,848 shares during the period. Eagle Asset Management Inc. raised its holdings in Seritage Growth Properties by 38.0% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,331,200 shares of the financial services provider’s stock worth $55,843,000 after buying an additional 366,325 shares during the period. FMR LLC grew its stake in shares of Seritage Growth Properties by 6,962.9% during the 2nd quarter. FMR LLC now owns 353,568 shares of the financial services provider’s stock worth $14,833,000 after acquiring an additional 348,562 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Seritage Growth Properties by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 933,958 shares of the financial services provider’s stock worth $39,179,000 after acquiring an additional 161,295 shares in the last quarter. Finally, Fairholme Capital Management LLC grew its stake in shares of Seritage Growth Properties by 3.8% during the 2nd quarter. Fairholme Capital Management LLC now owns 3,807,150 shares of the financial services provider’s stock worth $159,710,000 after acquiring an additional 140,200 shares in the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.
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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.
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