Seritage Growth Properties (NYSE:SRG) Issues Earnings Results

Seritage Growth Properties (NYSE:SRG) issued its quarterly earnings data on Friday. The financial services provider reported ($0.13) EPS for the quarter, Zacks reports. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Seritage Growth Properties Stock Up 0.7%

Seritage Growth Properties stock traded up $0.01 during midday trading on Friday, hitting $2.29. 172,699 shares of the stock were exchanged, compared to its average volume of 241,919. Seritage Growth Properties has a 52-week low of $2.25 and a 52-week high of $4.56. The company has a quick ratio of 18.47, a current ratio of 18.47 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $2.55 and its 200-day moving average price is $2.72. The stock has a market capitalization of $128.70 million, a price-to-earnings ratio of -1.59 and a beta of 2.21.

Hedge Funds Weigh In On Seritage Growth Properties

Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its position in Seritage Growth Properties by 5.8% in the fourth quarter. State Street Corp now owns 178,800 shares of the financial services provider’s stock worth $581,000 after purchasing an additional 9,800 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Seritage Growth Properties by 21.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 7,271 shares during the last quarter. Worth Venture Partners LLC increased its position in shares of Seritage Growth Properties by 21.3% during the 3rd quarter. Worth Venture Partners LLC now owns 94,023 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 16,523 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Seritage Growth Properties by 12.5% during the 3rd quarter. Squarepoint Ops LLC now owns 132,283 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 14,737 shares during the period. Finally, Sandia Investment Management LP raised its stake in shares of Seritage Growth Properties by 22.0% during the 2nd quarter. Sandia Investment Management LP now owns 93,887 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 16,900 shares during the period. Institutional investors own 78.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SRG. Wall Street Zen raised Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings lowered Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 5th. 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 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.