Seritage Growth Properties (NYSE:SRG) Sees Strong Trading Volume

Seritage Growth Properties (NYSE:SRG - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 515,961 shares changed hands during mid-day trading, an increase of 56% from the previous session's volume of 329,834 shares.The stock last traded at $9.25 and had previously closed at $9.36.

Seritage Growth Properties Stock Down 1.6 %

The company has a market cap of $518.15 million, a price-to-earnings ratio of -3.22 and a beta of 2.64. The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.64. The firm's fifty day moving average price is $9.43 and its 200-day moving average price is $8.95.

Insider Buying and Selling

In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 101,151 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.54, for a total value of $964,980.54. Following the transaction, the insider now directly owns 13,719,663 shares of the company's stock, valued at approximately $130,885,585.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 101,151 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.54, for a total value of $964,980.54. Following the transaction, the insider now directly owns 13,719,663 shares of the company's stock, valued at approximately $130,885,585.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Edward S. Lampert sold 136,251 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $9.68, for a total transaction of $1,318,909.68. Following the transaction, the insider now owns 13,582,612 shares in the company, valued at approximately $131,479,684.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,744 shares of company stock valued at $4,760,299. Company insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its position in shares of Seritage Growth Properties by 327.3% during the 4th quarter. Morgan Stanley now owns 1,026,000 shares of the financial services provider's stock worth $12,138,000 after acquiring an additional 785,904 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Seritage Growth Properties by 244.4% during the 1st quarter. Balyasny Asset Management L.P. now owns 973,180 shares of the financial services provider's stock worth $7,659,000 after acquiring an additional 690,601 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 471,047 shares in the last quarter. Millennium Management LLC boosted its position in Seritage Growth Properties by 333.7% in the fourth quarter. Millennium Management LLC now owns 493,478 shares of the financial services provider's stock valued at $5,838,000 after buying an additional 379,685 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Seritage Growth Properties by 44.9% in the first quarter. Gabelli Funds LLC now owns 802,155 shares of the financial services provider's stock valued at $6,313,000 after buying an additional 248,591 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company's stock.

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.