Waterfront Wealth Inc. Has $305,000 Stock Holdings in Seritage Growth Properties (NYSE:SRG)

Waterfront Wealth Inc. decreased its stake in shares of Seritage Growth Properties (NYSE:SRG) by 7.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,650 shares of the financial services provider’s stock after selling 2,500 shares during the quarter. Waterfront Wealth Inc.’s holdings in Seritage Growth Properties were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Morgan Stanley raised its position in Seritage Growth Properties by 327.3% in the 4th quarter. Morgan Stanley now owns 1,026,000 shares of the financial services provider’s stock valued at $12,138,000 after buying an additional 785,904 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Seritage Growth Properties by 244.4% during the 1st quarter. Balyasny Asset Management L.P. now owns 973,180 shares of the financial services provider’s stock valued at $7,659,000 after acquiring an additional 690,601 shares during the period. Vanguard Group Inc. lifted its holdings in Seritage Growth Properties by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 5,125,204 shares of the financial services provider’s stock worth $64,885,000 after purchasing an additional 471,047 shares in the last quarter. Millennium Management LLC boosted its position in shares of Seritage Growth Properties by 333.7% in the fourth quarter. Millennium Management LLC now owns 493,478 shares of the financial services provider’s stock valued at $5,838,000 after acquiring an additional 379,685 shares during the period. Finally, Gabelli Funds LLC grew its position in shares of Seritage Growth Properties by 44.9% during the 1st quarter. Gabelli Funds LLC now owns 802,155 shares of the financial services provider’s stock valued at $6,313,000 after purchasing an additional 248,591 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

Seritage Growth Properties Price Performance

Shares of SRG stock traded up $0.08 during trading on Thursday, hitting $9.35. The company had a trading volume of 14,675 shares, compared to its average volume of 334,475. Seritage Growth Properties has a 52 week low of $7.07 and a 52 week high of $9.92. The stock’s 50-day moving average is $9.42 and its two-hundred day moving average is $8.97. The stock has a market capitalization of $526.03 million, a price-to-earnings ratio of -3.24 and a beta of 2.64. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.64.

Insider Transactions at Seritage Growth Properties

In related news, major shareholder Edward S. Lampert sold 101,151 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $130,885,585.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Edward S. Lampert sold 136,251 shares of Seritage Growth Properties stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $9.68, for a total value of $1,318,909.68. Following the transaction, the insider now owns 13,582,612 shares in the company, valued at approximately $131,479,684.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Edward S. Lampert sold 101,151 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $9.54, for a total value 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. In the last three months, insiders sold 494,744 shares of company stock worth $4,760,299. 0.36% of the stock is currently owned by corporate insiders.

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.