Warren Buffett Is Making Money on This REIT, but You Probably Won't

Seritage Growth Properties (NYSE: SRG) has taken investors on a wild ride in 2020. Shares traded for around $40 in January, reflecting shareholders' optimism about the REIT's plans to redevelop former Sears and Kmart stores for new tenants that would pay much higher rents.

Unfortunately, the COVID-19 pandemic severely disrupted Seritage's plans. Seritage Growth Properties stock plummeted at a breathtaking pace in March, briefly falling as low as $5 in mid-March. Seritage shares remained in single-digit territory for most of April and May. The stock then tripled in the first six trading days of June, peaking at $24, before giving up most of its gains and falling to around $13 on Thursday.

Source Fool.com