Insider Selling: Seritage Growth Properties (SRG) Major Shareholder Sells 60,000 Shares of Stock
Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $40.35, for a total value of $2,421,000.00. Following the transaction, the insider now owns 528,498 shares of the company’s stock, valued at approximately $21,324,894.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Seritage Growth Properties (NYSE:SRG) traded down $0.24 during trading on Monday, hitting $40.26. The stock had a trading volume of 124,226 shares, compared to its average volume of 335,939. The stock has a market cap of $1,433.13, a PE ratio of 22.50 and a beta of 1.03. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 0.96. Seritage Growth Properties has a 12-month low of $38.49 and a 12-month high of $50.00.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders 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 2.48%. The ex-dividend date is Thursday, December 28th. Seritage Growth Properties’s dividend payout ratio (DPR) is -71.94%.
SRG has been the subject of a number of recent research reports. Zacks Investment Research cut Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. Boenning Scattergood set a $38.00 target price on Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, October 17th.
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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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