TCW Group Inc. cut its stake in Seritage Growth Properties (NYSE:SRG) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 545,190 shares of the financial services provider’s stock after selling 38,161 shares during the period. TCW Group Inc.’s holdings in Seritage Growth Properties were worth $22,058,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group purchased a new stake in Seritage Growth Properties in the third quarter valued at $152,000. Janney Capital Management LLC purchased a new stake in Seritage Growth Properties in the third quarter valued at $249,000. Teacher Retirement System of Texas purchased a new stake in Seritage Growth Properties in the fourth quarter valued at $343,000. Haverford Financial Services Inc. purchased a new stake in Seritage Growth Properties in the third quarter valued at $434,000. Finally, SG Americas Securities LLC lifted its position in Seritage Growth Properties by 238.8% in the third quarter. SG Americas Securities LLC now owns 9,428 shares of the financial services provider’s stock valued at $434,000 after acquiring an additional 6,645 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Seritage Growth Properties (SRG) opened at $41.93 on Tuesday. Seritage Growth Properties has a 1 year low of $37.78 and a 1 year high of $50.00. The firm has a market cap of $1,486.92, a price-to-earnings ratio of 23.34 and a beta of 0.96. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 0.96.
In related news, major shareholder Bruce R. Berkowitz sold 106,900 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $40.36, for a total value of $4,314,484.00. Following the completion of the sale, the insider now directly owns 528,498 shares of the company’s stock, valued at $21,330,179.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Bruce R. Berkowitz sold 60,000 shares of the business’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $40.35, for a total transaction of $2,421,000.00. Following the completion of the sale, the insider now directly owns 528,498 shares of the company’s stock, valued at $21,324,894.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,057,400 shares of company stock valued at $43,003,193. 9.78% of the stock is owned by corporate insiders.
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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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