Seritage Growth Properties (SRG) Major Shareholder Sells $744,744.00 in Stock
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%.
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.
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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