Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 772,200 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $40.71, for a total transaction of $31,436,262.00. Following the sale, the insider now owns 528,498 shares of the company’s stock, valued at $21,515,153.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Seritage Growth Properties (NYSE SRG) traded down $0.13 on Thursday, hitting $40.62. 202,269 shares of the company were exchanged, compared to its average volume of 334,897. The company has a debt-to-equity ratio of 0.96, a quick ratio of 4.22 and a current ratio of 4.22. The stock has a market capitalization of $1,426.06, a P/E ratio of 22.39 and a beta of 1.03. Seritage Growth Properties has a one year low of $38.49 and a one year high of $50.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, December 29th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, December 28th. Seritage Growth Properties’s payout ratio is -71.94%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fairholme Capital Management LLC boosted its holdings in shares of Seritage Growth Properties by 3.8% in the second quarter. Fairholme Capital Management LLC now owns 3,807,150 shares of the financial services provider’s stock worth $159,710,000 after buying an additional 140,200 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Seritage Growth Properties by 14.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 2,835,452 shares of the financial services provider’s stock worth $130,629,000 after buying an additional 358,962 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Seritage Growth Properties by 4.7% in the third quarter. Eagle Asset Management Inc. now owns 1,393,206 shares of the financial services provider’s stock worth $62,958,000 after buying an additional 62,006 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Seritage Growth Properties by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 933,958 shares of the financial services provider’s stock worth $39,179,000 after buying an additional 161,295 shares during the last quarter. Finally, State Street Corp lifted its holdings in Seritage Growth Properties by 3.1% during the second quarter. State Street Corp now owns 840,425 shares of the financial services provider’s stock valued at $35,257,000 after purchasing an additional 25,354 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on SRG. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “hold” rating to a “strong sell” rating in a report on Thursday, November 23rd. Boenning Scattergood set a $38.00 price target on shares of Seritage Growth Properties and gave the company a “sell” rating in a report on Tuesday, November 21st.
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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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