Seritage Growth Properties (NYSE:SRG) Announces Quarterly Earnings Results

Seritage Growth Properties (NYSE:SRG) issued its earnings results on Friday. The financial services provider reported ($0.56) EPS for the quarter, FiscalAI reports. The firm had revenue of $2.05 million during the quarter. Seritage Growth Properties had a negative net margin of 374.73% and a negative return on equity of 19.39%.

Seritage Growth Properties Price Performance

SRG traded down $0.22 on Friday, reaching $2.41. The stock had a trading volume of 422,482 shares, compared to its average volume of 245,076. The company has a current ratio of 16.70, a quick ratio of 16.70 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $135.47 million, a price-to-earnings ratio of -1.67 and a beta of 2.24. Seritage Growth Properties has a fifty-two week low of $2.38 and a fifty-two week high of $4.56. The firm has a 50-day moving average of $2.69 and a 200-day moving average of $3.20.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen cut Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings upgraded Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Seritage Growth Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in Seritage Growth Properties by 0.5% during the 3rd 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. K2 Principal Fund L.P. lifted its holdings in shares of Seritage Growth Properties by 5.6% during the fourth quarter. K2 Principal Fund L.P. now owns 1,056,400 shares of the financial services provider’s stock worth $3,433,000 after purchasing an additional 56,400 shares during the period. Towerview LLC lifted its holdings in shares of Seritage Growth Properties by 28.8% during the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after purchasing an additional 230,000 shares during the period. Yakira Capital Management Inc. grew its stake in shares of Seritage Growth Properties by 20.9% in the fourth quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock worth $3,240,000 after purchasing an additional 172,201 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of Seritage Growth Properties by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,050 shares during the last quarter. 78.93% of the stock is currently owned by institutional investors.

About Seritage Growth Properties

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.