Groupe la Francaise Invests $2 Million in Seritage Growth Properties $SRG

Key Points

• Groupe la Francaise has acquired a new stake in Seritage Growth Properties, purchasing 619,871 shares valued at approximately $2 million, giving it a 1.10% ownership in the company.
• A number of institutional investors have recently increased their positions in Seritage Growth Properties, with Price T Rowe Associates raising its stake by 63.4% during the fourth quarter.
• Despite recent investments, Seritage Growth Properties reported negative earnings per share of ($0.53) and a negative net margin of 497.67% in their latest quarterly results.

Groupe la Francaise purchased a new position in shares of Seritage Growth Properties (NYSE:SRG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 619,871 shares of the financial services provider's stock, valued at approximately $2,002,000. Groupe la Francaise owned about 1.10% of Seritage Growth Properties as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Seritage Growth Properties during the fourth quarter worth about $49,000. XTX Topco Ltd purchased a new stake in Seritage Growth Properties in the 4th quarter valued at approximately $60,000. Cubist Systematic Strategies LLC purchased a new stake in Seritage Growth Properties in the 4th quarter valued at approximately $145,000. Sandia Investment Management LP purchased a new stake in Seritage Growth Properties in the 4th quarter valued at approximately $223,000. Finally, Proficio Capital Partners LLC boosted its holdings in Seritage Growth Properties by 42.1% in the 1st quarter. Proficio Capital Partners LLC now owns 76,987 shares of the financial services provider's stock valued at $229,000 after purchasing an additional 22,800 shares in the last quarter. Hedge funds and other institutional investors own 78.93% of the company's stock.

Analysts Set New Price Targets

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

Seritage Growth Properties Price Performance

Shares of Seritage Growth Properties stock remained flat at $3.67 during trading on Friday. The company had a trading volume of 53,247 shares, compared to its average volume of 141,647. The company has a debt-to-equity ratio of 0.57, a current ratio of 11.03 and a quick ratio of 11.03. Seritage Growth Properties has a 1 year low of $2.43 and a 1 year high of $4.84. The stock has a market cap of $206.73 million, a PE ratio of -2.31 and a beta of 2.48. The stock has a fifty day moving average of $3.19 and a 200 day moving average of $3.12.

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

About Seritage Growth Properties

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.