Seritage Growth Properties (NYSE:SRG) Shares Acquired by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL increased its stake in Seritage Growth Properties (NYSE:SRG) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,623 shares of the financial services provider’s stock after acquiring an additional 3,050 shares during the period. Gamco Investors INC. ET AL owned approximately 0.46% of Seritage Growth Properties worth $2,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRG. Vanguard Group Inc. lifted its stake in Seritage Growth Properties by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,571,109 shares of the financial services provider’s stock worth $34,461,000 after acquiring an additional 22,441 shares during the last quarter. Fifth Lane Capital LP raised its holdings in shares of Seritage Growth Properties by 23.7% in the 1st quarter. Fifth Lane Capital LP now owns 81,112 shares of the financial services provider’s stock valued at $783,000 after purchasing an additional 15,517 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Seritage Growth Properties by 1.0% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 4,839,080 shares of the financial services provider’s stock worth $45,245,000 after purchasing an additional 47,740 shares during the last quarter. Corsair Capital Management L.P. purchased a new stake in shares of Seritage Growth Properties during the 4th quarter worth $280,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Seritage Growth Properties by 7.6% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 684,531 shares of the financial services provider’s stock worth $6,400,000 after purchasing an additional 48,478 shares in the last quarter. 78.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Seritage Growth Properties to a “sell” rating in a research note on Monday, May 13th.

Seritage Growth Properties Stock Down 0.2 %

Shares of SRG stock traded down $0.01 on Friday, reaching $4.97. 421,301 shares of the stock were exchanged, compared to its average volume of 362,070. The company has a current ratio of 7.92, a quick ratio of 7.92 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $5.05 and its 200 day moving average price is $7.79. The company has a market capitalization of $279.61 million, a price-to-earnings ratio of -2.38 and a beta of 2.58. Seritage Growth Properties has a twelve month low of $4.37 and a twelve month high of $9.87.

Seritage Growth Properties (NYSE:SRG) last issued its earnings results on Friday, May 10th. The financial services provider reported ($0.36) EPS for the quarter. The firm had revenue of $5.77 million for the quarter. Seritage Growth Properties had a negative return on equity of 1.34% and a negative net margin of 432.54%.

About Seritage Growth Properties

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.