In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Seritage Growth Properties (BIT:SRG) reported that Esl Partners, L.p. has picked up 2,335,046 of common stock as of 2017-02-24.
The acquisition brings the aggregate amount owned by Esl Partners, L.p. to a total of 2,335,046 representing a 7.9% stake in the company.
For those not familiar with the company, Seritage Growth Properties (Seritage) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition, ownership, development, redevelopment, and management and leasing of diversified retail real estate across the United States. The Company’s assets are held by and its operations are primarily conducted through directly or indirectly, by Seritage Growth Properties, L.P. Its portfolio include approximately 42.4 million square feet of gross leasable area (GLA), which consists of approximately 230 owned properties totaling over 37.0 million square feet of GLA across approximately 49 states and Puerto Rico and interests in approximately 30 joint venture properties totaling over 5.4 million square feet of GLA across approximately 17 states. Its portfolio includes over 3,000 acres of land, or approximately 10 acres per site for its owned properties.
A glance at Seritage Growth Properties (BIT:SRG)’s key stats reveals a current market capitalization of 1.59 billion based on 33.19 million shares outstanding and a price at last close of $47.23 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-31, Berkowitz picked up 600 at a purchase price of $40.63. This brings their total holding to 3,649,550 as of the date of the filing.
On the sell side, the most recent transaction saw Berkowitz unload 750 shares at a sale price of $47.82. This brings their total holding to 3,433,750.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Seritage Growth Properties (BIT:SRG) as things move forward to see if its progress aligns with these transactions.
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