Seritage Growth Properties (NYSE:SRG) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday.
According to Zacks, “Seritage Growth Properties is a self-administered, self-managed REIT primarily engaged in the real property business through its operating partnership, Seritage Growth Properties, L.P. Seritage Growth Properties is based in HOFFMAN ESTATES, United States. “
Separately, Boenning Scattergood set a $38.00 target price on shares of Seritage Growth Properties and gave the company a “sell” rating in a research note on Friday, December 15th.
In other Seritage Growth Properties news, major shareholder Bruce R. Berkowitz sold 99,700 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $40.99, for a total transaction of $4,086,703.00. Following the sale, the insider now directly owns 318,098 shares of the company’s stock, valued at $13,038,837.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Edward S. Lampert acquired 77,638 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were purchased at an average cost of $36.17 per share, for a total transaction of $2,808,166.46. The disclosure for this purchase can be found here. Insiders have acquired 78,763 shares of company stock worth $2,848,239 over the last ninety days. Insiders own 9.78% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Schroder Investment Management Group bought a new stake in Seritage Growth Properties during the third quarter worth about $152,000. Lido Advisors LLC bought a new stake in shares of Seritage Growth Properties during the fourth quarter valued at approximately $202,000. Janney Capital Management LLC bought a new stake in shares of Seritage Growth Properties during the third quarter valued at approximately $249,000. AMP Capital Investors Ltd bought a new stake in shares of Seritage Growth Properties during the fourth quarter valued at approximately $296,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Seritage Growth Properties during the fourth quarter valued at approximately $343,000. 89.63% of the stock is currently owned by hedge funds and other institutional investors.
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Seritage Growth Properties Company Profile
Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust. The Company is engaged in the acquisition, ownership, development, redevelopment, management and leasing of diversified retail real estate throughout the United States. Its assets are held by and its operations are primarily conducted through, directly or indirectly, Seritage Growth Properties, L.P.
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