Seritage Growth Properties (NYSE:SRG) Major Shareholder Edward S. Lampert Sells 65,917 Shares of Stock

Seritage Growth Properties (NYSE:SRGGet Rating) major shareholder Edward S. Lampert sold 65,917 shares of the firm’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $11.82, for a total transaction of $779,138.94. Following the transaction, the insider now directly owns 16,241,397 shares in the company, valued at approximately $191,973,312.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Seritage Growth Properties Stock Down 5.5 %

NYSE:SRG opened at $11.05 on Wednesday. Seritage Growth Properties has a fifty-two week low of $4.90 and a fifty-two week high of $17.12. The company has a debt-to-equity ratio of 2.30, a quick ratio of 5.92 and a current ratio of 5.92. The company’s 50-day simple moving average is $12.36 and its 200-day simple moving average is $10.45.

Seritage Growth Properties (NYSE:SRGGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The financial services provider reported ($1.76) earnings per share for the quarter. Seritage Growth Properties had a negative net margin of 93.58% and a negative return on equity of 10.05%. The firm had revenue of $29.70 million during the quarter.

Institutional Trading of Seritage Growth Properties

Institutional investors have recently modified their holdings of the company. American International Group Inc. boosted its stake in Seritage Growth Properties by 10.9% in the 2nd quarter. American International Group Inc. now owns 20,568 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 2,022 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Seritage Growth Properties by 40.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 13,424 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 3,860 shares in the last quarter. Bank of America Corp DE boosted its stake in Seritage Growth Properties by 5.4% in the 1st quarter. Bank of America Corp DE now owns 83,381 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 4,308 shares in the last quarter. Waterfront Wealth Inc. boosted its stake in Seritage Growth Properties by 10.1% in the 4th quarter. Waterfront Wealth Inc. now owns 47,222 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 4,350 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in Seritage Growth Properties during the 1st quarter valued at approximately $57,000. 67.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Seritage Growth Properties to a “sell” rating in a report on Monday, September 12th.

About Seritage Growth Properties

(Get Rating)

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 166 wholly-owned properties and 29 unconsolidated properties totaling approximately 30.4 million square feet of space across 44 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.

Further Reading

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