Hotchkis & Wiley Capital Management LLC Sells 157,690 Shares of 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 decreased its holdings in Seritage Growth Properties (NYSE:SRG - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,698,730 shares of the financial services provider's stock after selling 157,690 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 8.34% of Seritage Growth Properties worth $15,177,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SRG. Tabor Asset Management LP bought a new stake in shares of Seritage Growth Properties during the 1st quarter valued at $3,353,000. Groupe la Francaise bought a new stake in shares of Seritage Growth Properties in the 1st quarter valued at $2,002,000. Marshall Wace LLP bought a new position in Seritage Growth Properties during the 4th quarter worth about $850,000. Two Sigma Investments LP increased its holdings in Seritage Growth Properties by 241.8% during the 4th quarter. Two Sigma Investments LP now owns 205,872 shares of the financial services provider's stock worth $848,000 after purchasing an additional 145,648 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Seritage Growth Properties by 61.0% during the 4th quarter. Ameriprise Financial Inc. now owns 258,200 shares of the financial services provider's stock worth $1,064,000 after purchasing an additional 97,800 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

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 research report on Sunday, August 17th.

Seritage Growth Properties Stock Performance

Shares of SRG traded up $0.01 during trading hours on Friday, hitting $3.68. The company had a trading volume of 14,169 shares, compared to its average volume of 175,066. The business has a fifty day moving average of $3.17 and a 200-day moving average of $3.13. The firm has a market cap of $207.01 million, a price-to-earnings ratio of -2.31 and a beta of 2.48. Seritage Growth Properties has a 12 month low of $2.43 and a 12 month high of $4.84. The company has a quick ratio of 11.03, a current ratio of 11.03 and a debt-to-equity ratio of 0.57.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its quarterly earnings data 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 for the quarter. Seritage Growth Properties had a negative return on equity of 21.55% and a negative net margin of 497.67%.

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.