Seritage Growth Properties (NYSE:SRG - Get Free Report) major shareholder Edward S. Lampert sold 25,655 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.76, for a total value of $250,392.80. Following the completion of the sale, the insider now owns 13,484,162 shares of the company's stock, valued at $131,605,421.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Seritage Growth Properties Stock Down 0.7 %
Shares of Seritage Growth Properties stock opened at $9.62 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.86 and a current ratio of 5.86. Seritage Growth Properties has a 1 year low of $7.07 and a 1 year high of $9.92. The business has a 50-day moving average of $9.39 and a two-hundred day moving average of $8.83.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC grew its holdings in shares of Seritage Growth Properties by 500.0% during the fourth quarter. FNY Investment Advisers LLC now owns 6,000 shares of the financial services provider's stock worth $56,000 after buying an additional 5,000 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Seritage Growth Properties during the first quarter worth about $56,000. Ensign Peak Advisors Inc bought a new position in Seritage Growth Properties in the third quarter valued at approximately $60,000. Barclays PLC bought a new position in Seritage Growth Properties in the second quarter valued at approximately $63,000. Finally, Point72 Hong Kong Ltd bought a new position in Seritage Growth Properties in the second quarter valued at approximately $68,000. 78.93% of the stock is currently owned by institutional investors.
Seritage Growth Properties Company Profile
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Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.
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