Seritage Growth Properties (NYSE:SRG) Announces Earnings Results

Key Points

• Seritage Growth Properties reported a disappointing earnings result with an EPS of ($0.53) for the quarter, alongside a negative net margin of 953.02% and a negative return on equity of 17.07%.
• The company's stock price experienced a slight increase, trading at $2.88, with a market cap of $162.06 million and a PE ratio of -1.00.
• Institutional investors have shown interest, as Goldman Sachs and XTX Topco Ltd significantly increased their holdings in Seritage Growth Properties, which now has 78.93% of its stock owned by institutional investors.

Seritage Growth Properties (NYSE:SRG - Get Free Report) issued its quarterly earnings results on Thursday. The financial services provider reported ($0.53) earnings per share (EPS) for the quarter, Zacks reports. 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.

Seritage Growth Properties Trading Down 4.3%

Shares of Seritage Growth Properties stock traded down $0.1520 during trading hours on Tuesday, hitting $3.4180. The company's stock had a trading volume of 193,369 shares, compared to its average volume of 150,546. Seritage Growth Properties has a 12 month low of $2.43 and a 12 month high of $4.84. The stock has a 50 day moving average of $3.08 and a 200 day moving average of $3.13. The company has a market capitalization of $192.54 million, a PE ratio of -2.15 and a beta of 2.48. The company has a debt-to-equity ratio of 0.57, a current ratio of 11.03 and a quick ratio of 10.67.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Seritage Growth Properties

Several large investors have recently modified their holdings of SRG. Brevan Howard Capital Management LP grew its position in Seritage Growth Properties by 89.2% during the 2nd quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider's stock worth $64,000 after acquiring an additional 9,839 shares during the last quarter. Sandia Investment Management LP grew its position in Seritage Growth Properties by 22.0% during the 2nd quarter. Sandia Investment Management LP now owns 93,887 shares of the financial services provider's stock worth $289,000 after acquiring an additional 16,900 shares during the last quarter. Invesco Ltd. bought a new stake in Seritage Growth Properties during the 2nd quarter worth $60,000. Goldman Sachs Group Inc. grew its position 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 worth $980,000 after acquiring an additional 41,711 shares during the last quarter. Finally, Jane Street Group LLC grew its position in 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 worth $180,000 after acquiring an additional 44,144 shares during the last quarter. 78.93% of the stock is currently owned by institutional investors.

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.