K2 Principal Fund L.P. Cuts Holdings in Seritage Growth Properties $SRG

Key Points

• K2 Principal Fund L.P. reduced its stake in Seritage Growth Properties by 25.2%, selling 334,404 shares to hold 991,196 shares, valued at approximately $3.2 million.
• In early August, Wall Street Zen upgraded Seritage Growth Properties from a "sell" to a "hold" rating.
• The company reported a quarterly earnings loss of ($0.53) per share and a negative net margin of 497.67%, with revenue of $4.65 million.

K2 Principal Fund L.P. decreased its position in shares of Seritage Growth Properties (NYSE:SRG - Free Report) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 991,196 shares of the financial services provider's stock after selling 334,404 shares during the period. K2 Principal Fund L.P. owned about 1.76% of Seritage Growth Properties worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Tabor Asset Management LP bought a new position in shares of Seritage Growth Properties during the first quarter valued at $3,353,000. Two Sigma Investments LP raised its stake in Seritage Growth Properties by 241.8% during the fourth quarter. Two Sigma Investments LP now owns 205,872 shares of the financial services provider's stock worth $848,000 after buying an additional 145,648 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Seritage Growth Properties by 61.0% during the fourth quarter. Ameriprise Financial Inc. now owns 258,200 shares of the financial services provider's stock worth $1,064,000 after buying an additional 97,800 shares during the last quarter. Northern Trust Corp raised its stake in Seritage Growth Properties by 6.0% during the fourth quarter. Northern Trust Corp now owns 96,284 shares of the financial services provider's stock worth $397,000 after buying an additional 5,480 shares during the last quarter. Finally, Groupe la Francaise bought a new position in Seritage Growth Properties during the first quarter worth $2,002,000. Institutional investors and hedge funds own 78.93% of the company's stock.

Seritage Growth Properties Stock Down 0.2%

Shares of NYSE SRG traded down $0.01 during mid-day trading on Wednesday, reaching $4.47. 155,131 shares of the company's stock traded hands, compared to its average volume of 176,621. The stock has a market cap of $251.80 million, a P/E ratio of -2.81 and a beta of 2.32. The business has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $3.13. Seritage Growth Properties has a 1-year low of $2.43 and a 1-year high of $4.77. 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 (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 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.

Wall Street Analyst Weigh In

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

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.