The management at Seritage Growth Properties has decided to sell off its assets and return the proceeds to investors in light of the challenges faced during the COVID-19 pandemic. Despite the low stock price, the company’s assets are believed to 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 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. However, his opinions are independent and not influenced by any affiliations. Subscribe through their link to support their channel.
