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

Towerview LLC grew its stake in Seritage Growth Properties (NYSE:SRG) by 28.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,000 shares of the financial services provider’s stock after buying an additional 230,000 shares during the period. Seritage Growth Properties makes up about 1.9% of Towerview LLC’s holdings, making the stock its 9th biggest holding. Towerview LLC owned 1.83% of Seritage Growth Properties worth $2,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Gabelli Funds LLC raised its position 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 valued at $2,543,000 after buying an additional 4,050 shares in the last quarter. Barclays PLC grew its position in Seritage Growth Properties by 307.7% in the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 5,717 shares in the last quarter. Ancora Advisors LLC grew its position in Seritage Growth Properties by 5.3% in the third quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 7,263 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Seritage Growth Properties by 21.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its stake in Seritage Growth Properties by 2.5% in the fourth quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider’s stock valued at $1,040,000 after acquiring an additional 7,903 shares during the last quarter. Institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Stock Down 1.0%

Shares of Seritage Growth Properties stock opened at $2.60 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47. Seritage Growth Properties has a 52-week low of $2.31 and a 52-week high of $4.56. The company’s 50 day moving average price is $2.63 and its 200-day moving average price is $2.87. The stock has a market capitalization of $146.74 million, a price-to-earnings ratio of -1.81 and a beta of 2.19.

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

Analysts Set New Price Targets

SRG has been the topic of a number of research reports. Wall Street Zen upgraded Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings cut Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Seritage Growth Properties 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.