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

Shares of Seritage Growth Properties (NYSE:SRG) saw an uptick in trading volume on Monday . 515,961 shares traded hands during 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 Performance

The stock has a 50 day moving average price of $9.42 and a two-hundred day moving average price of $8.96. The company has a market capitalization of $517.87 million, a price-to-earnings 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.

Insiders Place Their Bets

In related news, major shareholder Edward S. Lampert sold 101,151 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $9.54, for a total value of $964,980.54. Following the completion of the transaction, the insider now owns 13,719,663 shares in the company, valued at approximately $130,885,585.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 101,151 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were 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 approximately $130,885,585.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Edward S. Lampert sold 179,186 shares of Seritage Growth Properties stock in a transaction on Friday, January 19th. The stock was sold at an average price of $9.61, for a total transaction of $1,721,977.46. Following the sale, the insider now directly owns 13,820,814 shares of the company’s stock, valued at approximately $132,818,022.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 494,744 shares of company stock valued at $4,760,299. Insiders own 0.36% of the company’s stock.

Institutional Trading of Seritage Growth Properties

A number of large investors have recently made changes to their positions in SRG. Morgan Stanley raised its position in shares of Seritage Growth Properties by 327.3% during the fourth quarter. Morgan Stanley now owns 1,026,000 shares of the financial services provider’s stock worth $12,138,000 after purchasing an additional 785,904 shares during the period. Balyasny Asset Management L.P. lifted its holdings in shares of Seritage Growth Properties by 244.4% in the first quarter. Balyasny Asset Management L.P. now owns 973,180 shares of the financial services provider’s stock valued at $7,659,000 after purchasing 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 first 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 period. Millennium Management LLC grew its holdings in shares of Seritage Growth Properties by 333.7% during the fourth quarter. Millennium Management LLC now owns 493,478 shares of the financial services provider’s stock worth $5,838,000 after buying an additional 379,685 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in Seritage Growth Properties by 44.9% in the 1st 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 during the last quarter. Institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

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.