Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 18,600 shares of Seritage Growth Properties stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $40.04, for a total value of $744,744.00. Following the completion of the sale, the insider now owns 568,598 shares of the company’s stock, valued at approximately $22,766,663.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of Seritage Growth Properties (NYSE SRG) traded down $0.37 during midday trading on Wednesday, hitting $39.68. The stock had a trading volume of 290,567 shares, compared to its average volume of 337,414. The company has a market cap of $1,414.38, a P/E ratio of 22.21 and a beta of 1.03. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.96. Seritage Growth Properties has a 1-year low of $38.49 and a 1-year high of $50.00.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, December 29th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 2.52%. Seritage Growth Properties’s payout ratio is currently -71.94%.

A number of hedge funds have recently made changes to their positions in the business. Fairholme Capital Management LLC boosted its position in 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 during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Seritage Growth Properties by 14.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,835,452 shares of the financial services provider’s stock worth $130,629,000 after acquiring an additional 358,962 shares during the period. Eagle Asset Management Inc. boosted its position in Seritage Growth Properties by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,393,206 shares of the financial services provider’s stock worth $62,958,000 after acquiring an additional 62,006 shares during the period. The Manufacturers Life Insurance Company boosted its position in 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 during the period. Finally, State Street Corp boosted its position in Seritage Growth Properties by 3.1% during the 2nd quarter. State Street Corp now owns 840,425 shares of the financial services provider’s stock worth $35,257,000 after acquiring an additional 25,354 shares during the period. Institutional investors own 78.00% of the company’s stock.

Several research firms have recently weighed in on SRG. Boenning Scattergood set a $38.00 price objective on Seritage Growth Properties and gave the company a “sell” rating in a research note on Tuesday, October 17th. 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 research report on Saturday, August 12th. Finally, BidaskClub raised Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th.

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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.

Insider Buying and Selling by Quarter for Seritage Growth Properties (NYSE:SRG)

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