Seritage Growth Properties, a real estate investment trust (REIT), has announced its decision to sell off its assets and return the proceeds to investors in light of the challenges faced during the COVID-19 pandemic. Despite a low stock price of 0.11% as of April 17, 2024, management believes that the company’s assets hold greater value.
The decline in the stock price was due to a significant impact on the REIT during the pandemic, which hindered its ability to recover. However, there is optimism that shareholders could see a handsome return once the assets are sold off and the debt is repaid.
Matt Frankel, who has no position in the stocks mentioned, recommends Seritage Growth Properties as an affiliate of The Motley Fool. He may receive compensation for promoting their services but his opinions are independent and not influenced by any affiliations. Subscribers can support their channel through this link.