Seritage Growth Properties (NYSE:SRG) Releases 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) announced its earnings results on Thursday. The financial services provider reported ($0.53) EPS for the quarter, Zacks reports. Seritage Growth Properties had a negative net margin of 953.02% and a negative return on equity of 17.07%.

Seritage Growth Properties Stock Performance

Seritage Growth Properties stock traded up $0.02 during mid-day trading on Thursday, reaching $2.88. 79,331 shares of the company were exchanged, compared to its average volume of 176,264. Seritage Growth Properties has a twelve month low of $2.43 and a twelve month high of $4.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 10.67 and a current ratio of 10.67. The firm's 50-day simple moving average is $3.06 and its two-hundred day simple moving average is $3.15. The firm has a market cap of $162.06 million, a PE ratio of -1.00 and a beta of 2.48.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Seritage Growth Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th.

Institutional Investors Weigh In On Seritage Growth Properties

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in Seritage Growth Properties by 15.9% in the first quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider's stock valued at $980,000 after buying an additional 41,711 shares in the last quarter. XTX Topco Ltd grew its holdings in shares of Seritage Growth Properties by 309.3% in the 2nd quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider's stock worth $193,000 after acquiring an additional 47,259 shares during the period. Invesco Ltd. purchased a new position in Seritage Growth Properties in the 2nd quarter valued at approximately $60,000. Finally, Marshall Wace LLP raised 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 worth $1,343,000 after buying an additional 250,989 shares during the last quarter. Institutional investors and hedge funds own 78.93% of the company's stock.

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.

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