Citadel Advisors owns 3,841,231 shares or 7.2% stake in Seritage Growth Properties based on its 13G filing with the Securities and Exchange Commission (SEC).
Kenneth Griffin is the founder and CEO of Citadel Advisors, which has $26 billion in investment capital as of May 1, 2015. The hedge fund’s investment approach is driven by a combination of rigorous fundamental research, advanced quantitative analysis, and a proven technology platform.
Citadel Advisors advisors depend on the insights and innovations of its disciplined and deeply engaged teams to identify the very best ideas for each of its investment strategies. Its investment teams are focused on achieving consistently high, risk-adjusted returns for investors and capital partners.
Since the financial crisis, Warren Buffett's Berkshire Hathaway has had significant exposure to financial stocks in its portfolio. Q1 2021 hedge fund letters, conferences and more At the end of March this year, Bank of America accounted for nearly 15% of the conglomerate's vast equity portfolio. Until very recently, Wells Fargo was also a prominent Read More
Seritage Growth Properties stock performance
Seritage Growth Properties is a real estate investment trust (REIT) formed by Sears Holdings in partnership with General Growth Properties. The REIT acquired 235 properties owned by Sears Holdings for $2.7 billion in a sale-leaseback transaction.
Seritage Growth Properties started trading on the New York Stock Exchange (NYSE) under the symbol SRG on July 6, 2015. The REIT commenced a $1.57 billion subscription rights offering for its common stock after the SEC declared it effective.
The shares of Seritage Growth Properties traded between $36.02 and $38.01 since started trading. The stock price of the company closed $37.96 per share on Thursday.
Seritage Growth Properties executive appointments
Earlier this month, Seritage Growth Properties announced the appointment of Brian Dickman as executive vice president and chief financial officer. Mr. Dickman recently served as CFO and Secretary of Agree Realty Corporation. He will join Seritage Growth Properties on August 17.
Prior to his career at Agree Realty Corporation, Mr. Dickman was investment banker focusing on REITs at RBC Capital Markets. He also held similar jobs at Barclays and Lehman Brothers.
Seritage Growth Properties also recently appointed Benjamin Schall as president & CEO, Mary Rottler as executive vice president of leasing & operations, James Bry as executive vice president of development & construction, and Matthew Fernand as executive vice president & general counsel.
“We have assembled a first-class team whose focus will be to capitalize on the meaningful growth opportunities in front of us, which we believe will, in turn, create significant long-term value for our shareholders,” said Mr. Schall in a statement.