Sears shares rose 7 percent at $44.22 in premarket trading on Wednesday. Billionaire Chief Executive Eddie Lampert, who controls nearly half of Sears, has launched a series of unusual transactions, cut costs and sold assets to turn around the company, which has posted losses for the last 11 quarters. His latest move involves setting up a REIT, Seritage Growth Properties, which will buy and lease back about 254 Sears and Kmart stores. Sears owned or leased 1,725 Sears and Kmart stores as of Jan. 31.