Towerview LLC Has $2.89 Million Stock Position in Seritage Growth Properties $SRG

Towerview LLC grew its holdings in Seritage Growth Properties (NYSE:SRG) by 28.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,030,000 shares of the financial services provider’s stock after acquiring an additional 230,000 shares during the period. Seritage Growth Properties accounts for approximately 1.9% of Towerview LLC’s investment portfolio, making the stock its 9th biggest holding. Towerview LLC’s holdings in Seritage Growth Properties were worth $2,894,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SRG. Creek Drive Management Group LLC purchased a new position in shares of Seritage Growth Properties during the fourth quarter valued at approximately $1,421,000. Clutterbuck Capital Management LLC bought a new position in shares of Seritage Growth Properties during the fourth quarter valued at approximately $1,343,000. K2 Principal Fund L.P. lifted its stake in 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 acquiring an additional 56,400 shares during the period. Gabelli Funds LLC lifted its stake in 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 acquiring an additional 4,050 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Seritage Growth Properties by 11.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 94,896 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 9,379 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

Seritage Growth Properties Stock Performance

Seritage Growth Properties stock opened at $2.60 on Friday. Seritage Growth Properties has a fifty-two week low of $2.31 and a fifty-two week high of $4.56. The stock’s 50 day simple moving average is $2.63 and its two-hundred day simple moving average is $2.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47. The stock has a market cap of $146.74 million, a price-to-earnings ratio of -1.81 and a beta of 2.19.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Friday, May 15th. The financial services provider reported ($0.56) earnings per share (EPS) for the quarter. The firm had revenue of $2.05 million during the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen raised shares of Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings cut shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties currently has a consensus 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.