Hotchkis & Wiley Capital Management LLC Cuts Stock Holdings in Seritage Growth Properties $SRG

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in Seritage Growth Properties by 3.2%, bringing their total holdings to approximately 4.7 million shares valued at $15.2 million.
• Seritage Growth Properties reported a loss of $0.53 earnings per share in its latest quarterly earnings, alongside a negative net margin of 497.67% for the period.
• Analysts upgraded Seritage Growth Properties from a "sell" to a "hold" rating, reflecting a shift in sentiment for the company's stock performance.

Hotchkis & Wiley Capital Management LLC reduced its position in Seritage Growth Properties (NYSE:SRG - Free Report) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,698,730 shares of the financial services provider's stock after selling 157,690 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 8.34% of Seritage Growth Properties worth $15,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SRG. Groupe la Francaise bought a new stake in shares of Seritage Growth Properties in the 1st quarter worth $2,002,000. Proficio Capital Partners LLC boosted its position in shares of Seritage Growth Properties by 42.1% during the first quarter. Proficio Capital Partners LLC now owns 76,987 shares of the financial services provider's stock valued at $229,000 after buying an additional 22,800 shares during the last quarter. Tabor Asset Management LP bought a new stake in Seritage Growth Properties in the 1st quarter worth about $3,353,000. Harbor Capital Advisors Inc. increased its holdings in Seritage Growth Properties by 31.8% in the 1st quarter. Harbor Capital Advisors Inc. now owns 317,149 shares of the financial services provider's stock worth $1,024,000 after buying an additional 76,552 shares in the last quarter. Finally, Alpine Global Management LLC raised its position in Seritage Growth Properties by 13.1% in the 4th quarter. Alpine Global Management LLC now owns 200,000 shares of the financial services provider's stock worth $824,000 after buying an additional 23,164 shares during the last quarter. 78.93% of the stock is owned by institutional investors.

Seritage Growth Properties Stock Up 4.6%

SRG stock opened at $3.61 on Friday. The company has a market cap of $203.35 million, a price-to-earnings ratio of -2.27 and a beta of 2.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 10.67 and a current ratio of 11.03. The business's 50-day moving average is $3.12 and its two-hundred day moving average is $3.12. Seritage Growth Properties has a fifty-two week low of $2.43 and a fifty-two week high of $4.84.

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

Analysts Set New Price Targets

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

Seritage Growth Properties 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.

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