Bruce R. Berkowitz Sells 27,100 Shares of Seritage Growth Properties (SRG) Stock
Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 27,100 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $40.93, for a total value of $1,109,203.00. Following the completion of the sale, the insider now owns 583,498 shares in the company, valued at $23,882,573.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Seritage Growth Properties (NYSE:SRG) opened at $40.28 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 4.22 and a quick ratio of 4.22. The company has a market capitalization of $1,443.04, a price-to-earnings ratio of 22.66 and a beta of 1.06. 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. Shareholders of record on Friday, December 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio is currently -71.94%.
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A number of institutional investors have recently bought and sold shares of SRG. FMR LLC acquired a new position in Seritage Growth Properties in the first quarter worth $216,000. Teachers Advisors LLC boosted its stake in Seritage Growth Properties by 2.9% in the first quarter. Teachers Advisors LLC now owns 42,722 shares of the financial services provider’s stock worth $1,843,000 after purchasing an additional 1,198 shares in the last quarter. California Public Employees Retirement System boosted its stake in Seritage Growth Properties by 7.6% in the first quarter. California Public Employees Retirement System now owns 26,800 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 1,900 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Seritage Growth Properties by 19.1% during the first 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 during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Seritage Growth Properties by 3.1% during the first 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 during the period. 74.98% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on SRG. Boenning Scattergood set a $38.00 price target on Seritage Growth Properties and gave the company a “sell” rating in a research report on Tuesday, October 17th. Zacks Investment Research cut Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, BidaskClub upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th.
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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