REIT Seritage Growth Properties Sells Assets in an Effort to Recover from COVID-19 Pandemic

In light of the challenges faced by Seritage Growth Properties during the COVID-19 pandemic, management has decided to sell off the company’s assets and return the proceeds to investors. Despite a low stock price, it is believed that the company’s assets hold greater value.

The real estate investment trust (REIT) experienced a significant decline during the pandemic and has been unable to recover. As of April 17, 2024, the stock price was at 0.11%. However, there is optimism that shareholders could see a handsome return once the assets are sold off and debt is repaid.

Matt Frankel, who has no position in the stocks mentioned, recommends Seritage Growth Properties. He believes that despite the current state of affairs, this REIT has potential for future growth. As an affiliate of The Motley Fool, he may receive compensation for promoting their services. However, his opinions are independent and not influenced by any affiliations. Subscribe through their link to support their channel and stay informed on all things Seritage Growth Properties.