Seritage Growth Properties (NYSE:SRG) Announces Earnings Results

Seritage Growth Properties (NYSE:SRG) posted its earnings results on Tuesday. The financial services provider reported ($0.11) earnings per share for the quarter, FiscalAI reports. Seritage Growth Properties had a negative return on equity of 20.13% and a negative net margin of 404.37%.The firm had revenue of $4.17 million for the quarter.

Seritage Growth Properties Price Performance

Shares of SRG traded down $0.01 during trading hours on Wednesday, reaching $2.80. 135,821 shares of the company’s stock traded hands, compared to its average volume of 201,564. Seritage Growth Properties has a 12 month low of $2.43 and a 12 month 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 cap of $157.88 million, a PE ratio of -1.95 and a beta of 2.43. The firm’s 50 day simple moving average is $3.03 and its 200-day simple moving average is $3.52.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Seritage Growth Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its stake in Seritage Growth Properties by 307.7% in the 4th quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock worth $25,000 after buying an additional 5,717 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Seritage Growth Properties in the 4th quarter worth $34,000. Levin Capital Strategies L.P. purchased a new stake in shares of Seritage Growth Properties during the 3rd quarter valued at $42,000. Invesco Ltd. purchased a new stake in shares of Seritage Growth Properties during the 2nd quarter valued at $60,000. Finally, Bank of America Corp DE lifted its holdings in shares of Seritage Growth Properties by 725.6% during the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 12,857 shares during the last quarter. 78.93% of the stock is owned by hedge funds and other institutional investors.

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.