GABELLI & Co INVESTMENT ADVISERS INC. Boosts Stock Position in Seritage Growth Properties $SRG

Key Points

• GABELLI & Co Investment Advisers Inc. increased its stake in Seritage Growth Properties by 51.1%, acquiring an additional 232,382 shares, bringing its total to 686,994 shares worth approximately $2.2 million.
• Seritage Growth Properties reported a negative earnings per share of ($0.53) with a negative net margin of 497.67% for its most recent quarter.
• Analyst ratings for Seritage Growth Properties have improved, with Wall Street Zen recently upgrading the stock from a "sell" to a "hold" rating.

GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Seritage Growth Properties (NYSE:SRG - Free Report) by 51.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 686,994 shares of the financial services provider's stock after buying an additional 232,382 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 1.22% of Seritage Growth Properties worth $2,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Seritage Growth Properties during the fourth quarter valued at approximately $49,000. XTX Topco Ltd bought a new position in Seritage Growth Properties in the 4th quarter valued at $60,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Seritage Growth Properties during the 4th quarter valued at $145,000. Sandia Investment Management LP purchased a new stake in shares of Seritage Growth Properties during the 4th quarter valued at $223,000. Finally, Proficio Capital Partners LLC raised its stake in shares of Seritage Growth Properties by 42.1% during the 1st quarter. Proficio Capital Partners LLC now owns 76,987 shares of the financial services provider's stock worth $229,000 after purchasing an additional 22,800 shares during the period. 78.93% of the stock is owned by institutional investors.

Seritage Growth Properties Stock Performance

NYSE:SRG remained flat at $3.67 during trading hours on Friday. The company's stock had a trading volume of 53,247 shares, compared to its average volume of 141,647. The firm has a market capitalization of $206.73 million, a PE ratio of -2.31 and a beta of 2.48. The stock has a 50-day moving average of $3.19 and a 200 day moving average of $3.12. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.57. Seritage Growth Properties has a twelve month low of $2.43 and a twelve month high of $4.84.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The financial services provider reported ($0.53) earnings per share for the quarter. Seritage Growth Properties had a negative return on equity of 21.55% and a negative net margin of 497.67%.The firm had revenue of $4.65 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Seritage Growth Properties from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th.

Seritage Growth Properties Company Profile

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.