Seritage Growth Properties (NYSE:SRG) Issues Earnings Results

Seritage Growth Properties (NYSE:SRG) issued its earnings results on Tuesday. The financial services provider reported ($0.11) earnings per share (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

Shares of SRG traded down $0.04 during midday trading on Thursday, hitting $2.75. 37,751 shares of the company traded hands, compared to its average volume of 206,774. The stock has a market cap of $154.63 million, a price-to-earnings ratio of -2.11 and a beta of 2.41. The firm has a 50 day moving average of $3.01 and a 200-day moving average of $3.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 10.13 and a current ratio of 10.13. Seritage Growth Properties has a 52 week low of $2.43 and a 52 week high of $4.56.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seritage Growth Properties in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Seritage Growth Properties

Several institutional investors have recently added to or reduced their stakes in SRG. Gabelli Funds LLC raised its holdings in shares of Seritage Growth Properties by 0.5% during the 4th 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 in the last quarter. Barclays PLC raised its stake in Seritage Growth Properties by 307.7% during the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 5,717 shares in the last quarter. Ancora Advisors LLC lifted its position in Seritage Growth Properties by 5.3% during the third quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 7,263 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Seritage Growth Properties by 21.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock worth $132,000 after buying an additional 7,271 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its holdings in shares of Seritage Growth Properties by 2.5% in the 4th quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider’s stock worth $1,040,000 after buying an additional 7,903 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

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.