Yakira Capital Management Inc. Sells 265,825 Shares of Seritage Growth Properties $SRG

Yakira Capital Management Inc. decreased its holdings in shares of Seritage Growth Properties (NYSE:SRG) by 24.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 824,653 shares of the financial services provider’s stock after selling 265,825 shares during the quarter. Seritage Growth Properties makes up about 1.2% of Yakira Capital Management Inc.’s holdings, making the stock its 25th biggest position. Yakira Capital Management Inc. owned approximately 1.46% of Seritage Growth Properties worth $3,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SRG. Levin Capital Strategies L.P. bought a new stake in Seritage Growth Properties in the third quarter worth $42,000. Total Clarity Wealth Management Inc. bought a new position in Seritage Growth Properties during the third quarter valued at about $72,000. Beverly Hills Private Wealth LLC bought a new position in Seritage Growth Properties during the third quarter valued at about $72,000. Invesco Ltd. acquired a new stake in shares of Seritage Growth Properties in the second quarter worth about $60,000. Finally, Brevan Howard Capital Management LP lifted its position in shares of Seritage Growth Properties by 89.2% in the second quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after buying an additional 9,839 shares during the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seritage Growth Properties in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Seritage Growth Properties Price Performance

SRG opened at $2.90 on Monday. Seritage Growth Properties has a 1-year low of $2.43 and a 1-year high of $4.56. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $163.36 million, a price-to-earnings ratio of -2.04 and a beta of 2.43. The business has a 50 day moving average of $3.27 and a 200-day moving average of $3.65.

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.