Seritage Growth Properties (NYSE:SRG) Announces Earnings Results

Seritage Growth Properties (NYSE:SRG) released its quarterly earnings data on Tuesday. The financial services provider reported ($0.11) EPS for the quarter, FiscalAI reports. The company had revenue of $4.17 million during the quarter. Seritage Growth Properties had a negative return on equity of 20.13% and a negative net margin of 404.37%.

Seritage Growth Properties Price Performance

SRG stock traded up $0.14 during mid-day trading on Tuesday, reaching $2.80. 204,154 shares of the company’s stock were exchanged, compared to its average volume of 206,588. The company has a debt-to-equity ratio of 0.58, a current ratio of 10.13 and a quick ratio of 10.13. Seritage Growth Properties has a 12-month low of $2.43 and a 12-month high of $4.56. The stock’s 50 day moving average is $3.03 and its 200 day moving average is $3.52. The company has a market cap of $157.50 million, a price-to-earnings ratio of -1.97 and a beta of 2.43.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in Seritage Growth Properties during the 4th quarter worth $87,000. Dimensional Fund Advisors LP raised its position in shares of Seritage Growth Properties by 21.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock valued at $132,000 after buying an additional 7,271 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Seritage Growth Properties by 309.0% in the second quarter. Jane Street Group LLC now owns 58,430 shares of the financial services provider’s stock worth $180,000 after buying an additional 44,144 shares in the last quarter. State Street Corp lifted its stake in shares of Seritage Growth Properties by 5.8% in the fourth quarter. State Street Corp now owns 178,800 shares of the financial services provider’s stock worth $581,000 after buying an additional 9,800 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in Seritage Growth Properties by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock worth $19,640,000 after acquiring an additional 22,060 shares during the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seritage Growth Properties in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company’s core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.