Seritage Growth Properties (NYSE:SRG) Sees Large Volume Increase

Shares of Seritage Growth Properties (NYSE:SRG) saw strong trading volume on Monday . 515,961 shares traded 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 0.1 %

The stock has a market capitalization of $517.87 million, a P/E ratio of -3.22 and a beta of 2.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 6.76 and a quick ratio of 6.76. The firm has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $8.96.

Insider Buying and Selling

In related news, major shareholder Edward S. Lampert sold 25,655 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $9.76, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Edward S. Lampert sold 25,655 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $9.76, for a total transaction of $250,392.80. Following the transaction, the insider now owns 13,484,162 shares in the company, valued at approximately $131,605,421.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Edward S. Lampert sold 101,151 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $9.54, for a total transaction of $964,980.54. Following the transaction, the insider now directly owns 13,719,663 shares in the company, valued at $130,885,585.02. The disclosure for this sale can be found here. Insiders have sold a total of 494,744 shares of company stock worth $4,760,299 in the last ninety days. Company insiders own 0.36% of the company’s stock.

Institutional Trading of Seritage Growth Properties

Large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its stake in Seritage Growth Properties by 9.7% during the 2nd quarter. Great West Life Assurance Co. Can now owns 14,809 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 1,304 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Seritage Growth Properties by 1.2% during the third quarter. Northern Trust Corp now owns 109,365 shares of the financial services provider’s stock valued at $846,000 after buying an additional 1,336 shares during the last quarter. American International Group Inc. increased its position in shares of Seritage Growth Properties by 10.9% during the second quarter. American International Group Inc. now owns 20,568 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 2,022 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Seritage Growth Properties by 0.7% in the 1st quarter. Geode Capital Management LLC now owns 410,427 shares of the financial services provider’s stock worth $3,230,000 after acquiring an additional 2,913 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Seritage Growth Properties by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 21,224 shares of the financial services provider’s stock valued at $191,000 after acquiring an additional 3,134 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors and hedge funds.

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.