Creek Drive Management Group LLC Purchases Shares of 437,200 Seritage Growth Properties $SRG

Creek Drive Management Group LLC acquired a new position in Seritage Growth Properties (NYSE:SRG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 437,200 shares of the financial services provider’s stock, valued at approximately $1,421,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Seritage Growth Properties by 0.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock valued at $19,640,000 after purchasing an additional 22,060 shares in the last quarter. K2 Principal Fund L.P. increased its position in Seritage Growth Properties by 5.6% during the 4th 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 in the last quarter. Yakira Capital Management Inc. increased its position in Seritage Growth Properties by 20.9% during the 4th 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 in the last quarter. Towerview LLC raised its holdings in Seritage Growth Properties by 14.3% in the fourth quarter. Towerview LLC now owns 800,000 shares of the financial services provider’s stock valued at $2,600,000 after buying an additional 100,000 shares during the period. Finally, Gabelli Funds LLC raised its holdings 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 valued at $2,543,000 after buying an additional 4,050 shares during the period. 78.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SRG shares. Wall Street Zen cut shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Seritage Growth Properties Trading Down 0.8%

NYSE:SRG opened at $2.64 on Friday. The business’s 50-day moving average is $2.62 and its two-hundred day moving average is $2.98. The firm has a market capitalization of $148.71 million, a PE ratio of -1.83 and a beta of 2.21. Seritage Growth Properties has a 12 month low of $2.31 and a 12 month high of $4.56. The company has a debt-to-equity ratio of 0.16, a current ratio of 18.47 and a quick ratio of 18.47.

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

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.