Insider Selling: Seritage Growth Properties (SRG) Major Shareholder Sells 99,700 Shares of Stock

Seritage Growth Properties (NYSE:SRG) major shareholder Bruce R. Berkowitz sold 99,700 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the completion of the transaction, the insider now owns 318,098 shares of the company’s stock, valued at $13,038,837.02. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Seritage Growth Properties (SRG) traded up $0.21 during trading hours on Monday, hitting $41.15. 163,159 shares of the stock were exchanged, compared to its average volume of 326,493. The stock has a market cap of $1,448.70, a P/E ratio of -29.60 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 12-month low of $38.49 and a 12-month high of $50.00.

Seritage Growth Properties (NYSE:SRG) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.21). Seritage Growth Properties had a negative return on equity of 3.33% and a negative net margin of 17.97%. analysts expect that Seritage Growth Properties will post 1.76 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Alpha Windward LLC purchased a new stake in shares of Seritage Growth Properties in the 3rd quarter worth about $459,000. Fairholme Capital Management LLC grew its position in shares of Seritage Growth Properties by 3.8% in 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 buying an additional 140,200 shares during the period. Eagle Asset Management Inc. grew 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 valued at $62,958,000 after purchasing an additional 62,006 shares during the last quarter. TCW Group Inc. grew its position in Seritage Growth Properties by 9.8% during the 3rd quarter. TCW Group Inc. now owns 583,351 shares of the financial services provider’s stock valued at $26,875,000 after purchasing an additional 52,206 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Seritage Growth Properties by 9.6% during the 3rd quarter. Legal & General Group Plc now owns 67,740 shares of the financial services provider’s stock valued at $3,121,000 after purchasing an additional 5,947 shares during the last quarter. 77.95% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have commented on SRG shares. Boenning Scattergood set a $38.00 price objective on shares of Seritage Growth Properties and gave the stock a “sell” rating in a report on Tuesday, November 21st. Zacks Investment Research downgraded shares of Seritage Growth Properties from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 11th.

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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.

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

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