Seritage Growth Properties (NYSE:SRG) Posts Quarterly Earnings Results

Key Points

• Seritage Growth Properties reported quarterly EPS of negative $0.13, alongside a negative net margin of 487.58% and negative return on equity of 23.03%.
• Shares closed at $2.29, near the company’s 52-week low of $2.25, with the stock down substantially from its 52-week high of $4.56.
• Institutional investors and hedge funds own 78.93% of the stock, while analyst sentiment remains negative: Seritage carries a consensus rating of “Sell.”

Seritage Growth Properties (NYSE:SRG - Get Free Report) posted its quarterly earnings results on Friday. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, Zacks reports. Seritage Growth Properties had a negative net margin of 487.58% and a negative return on equity of 23.03%.

Seritage Growth Properties Price Performance

Shares of NYSE SRG traded up $0.01 during trading on Friday, hitting $2.29. The company had a trading volume of 172,699 shares, compared to its average volume of 241,919. Seritage Growth Properties has a 52 week low of $2.25 and a 52 week high of $4.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47. The company has a market cap of $128.70 million, a P/E ratio of -1.59 and a beta of 2.21. The business's 50-day moving average is $2.55 and its 200 day moving average is $2.72.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its stake in Seritage Growth Properties by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider's stock valued at $980,000 after acquiring an additional 41,711 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Seritage Growth Properties by 309.3% in the second quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider's stock worth $193,000 after purchasing an additional 47,259 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Seritage Growth Properties during the second quarter worth approximately $60,000. Marshall Wace LLP boosted its stake in shares of Seritage Growth Properties by 135.7% during the 2nd quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider's stock valued at $1,343,000 after buying an additional 250,989 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Seritage Growth Properties by 309.0% during the 2nd quarter. Jane Street Group LLC now owns 58,430 shares of the financial services provider's stock valued at $180,000 after acquiring an additional 44,144 shares in the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SRG has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Seritage Growth Properties from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, August 5th. Wall Street Zen raised Seritage Growth Properties from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties presently has a consensus rating of "Sell".

About Seritage Growth Properties

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company's core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.

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