Seritage Growth Properties (NYSE:SRG) Major Shareholder Edward S. Lampert Sells 25,655 Shares

Seritage Growth Properties (NYSE:SRG - Get Free Report) major shareholder Edward S. Lampert sold 25,655 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were 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 legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Seritage Growth Properties Stock Performance

Shares of NYSE SRG traded down $0.07 during trading on Wednesday, reaching $9.62. The stock had a trading volume of 228,399 shares, compared to its average volume of 320,424. Seritage Growth Properties has a one year low of $7.07 and a one year high of $9.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.86 and a current ratio of 5.86. The stock has a market cap of $540.55 million, a PE ratio of -3.36 and a beta of 2.64. The firm's 50 day moving average price is $9.39 and its two-hundred day moving average price is $8.83.

Institutional Investors Weigh In On Seritage Growth Properties

A number of institutional investors have recently made changes to their positions in SRG. Swiss National Bank grew its stake in Seritage Growth Properties by 7.3% during the 1st quarter. Swiss National Bank now owns 92,838 shares of the financial services provider's stock worth $1,175,000 after buying an additional 6,300 shares during the last quarter. MetLife Investment Management LLC grew its stake in Seritage Growth Properties by 162.8% during the 1st quarter. MetLife Investment Management LLC now owns 20,110 shares of the financial services provider's stock worth $255,000 after buying an additional 12,459 shares during the last quarter. Cibc World Market Inc. bought a new position in Seritage Growth Properties during the 1st quarter worth $541,000. Vanguard Group Inc. grew its stake in Seritage Growth Properties by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 5,125,204 shares of the financial services provider's stock worth $64,885,000 after buying an additional 471,047 shares during the last quarter. Finally, Ergoteles LLC bought a new position in Seritage Growth Properties during the 1st quarter worth $606,000. 78.93% of the stock is currently owned by institutional investors.

About Seritage Growth Properties

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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