Seritage Growth Properties (NYSE:SRG) Posts Earnings Results

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

Seritage Growth Properties Stock Performance

Shares of Seritage Growth Properties stock traded down $0.22 during trading hours on Friday, reaching $2.41. The company had a trading volume of 422,482 shares, compared to its average volume of 245,076. The company has a debt-to-equity ratio of 0.14, a current ratio of 16.70 and a quick ratio of 16.70. Seritage Growth Properties has a one year low of $2.38 and a one year high of $4.56. The firm has a market cap of $135.47 million, a PE ratio of -1.85 and a beta of 2.24. The business has a fifty day simple moving average of $2.69 and a 200 day simple moving average of $3.20.

Institutional Investors Weigh In On Seritage Growth Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC raised its position in shares of Seritage Growth Properties by 0.5% in 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 buying an additional 22,060 shares in the last quarter. K2 Principal Fund L.P. raised its position in shares of Seritage Growth Properties by 5.6% in 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 buying an additional 56,400 shares in the last quarter. Towerview LLC raised its position in shares of Seritage Growth Properties by 28.8% in the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after buying an additional 230,000 shares in the last quarter. Yakira Capital Management Inc. raised its position 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 buying an additional 172,201 shares in the last quarter. Finally, Gabelli Funds LLC raised its position 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 buying an additional 4,050 shares in the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SRG shares. Wall Street Zen lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings raised Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently 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.