Seritage Growth Properties (NYSE:SRG – Get Free Report) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “hold” rating in a report issued on Sunday.
Separately, Weiss Ratings upgraded shares of Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Read Our Latest Stock Analysis on SRG
Seritage Growth Properties Stock Performance
Seritage Growth Properties (NYSE:SRG – Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The financial services provider reported ($0.13) earnings per share for the quarter. The business had revenue of $1.87 million for the quarter. Seritage Growth Properties had a negative return on equity of 17.06% and a negative net margin of 419.02%.
Institutional Investors Weigh In On Seritage Growth Properties
A number of large investors have recently bought and sold shares of SRG. Newtyn Management LLC raised its position in Seritage Growth Properties by 5,411.3% in the 2nd quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider’s stock valued at $5,960,000 after purchasing an additional 2,225,110 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Seritage Growth Properties by 27.0% during the second quarter. Ancora Advisors LLC now owns 262,887 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 55,888 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Seritage Growth Properties by 140.1% in the first quarter. Bank of America Corp DE now owns 52,025 shares of the financial services provider’s stock valued at $146,000 after buying an additional 30,358 shares in the last quarter. RBF Capital LLC acquired a new stake in shares of Seritage Growth Properties in the first quarter valued at $174,000. Finally, Towerview LLC raised its holdings in shares of Seritage Growth Properties by 28.7% in the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock valued at $2,894,000 after buying an additional 230,000 shares during the last quarter. 78.93% of the stock is currently owned by institutional investors.
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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