Creek Drive Management Group LLC Invests $1.42 Million in Seritage Growth Properties $SRG

Creek Drive Management Group LLC acquired a new stake in Seritage Growth Properties (NYSE:SRG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 437,200 shares of the financial services provider’s stock, valued at approximately $1,421,000. Creek Drive Management Group LLC owned about 0.78% of Seritage Growth Properties at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SRG. Hotchkis & Wiley Capital Management LLC boosted its position in Seritage Growth Properties by 0.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock worth $19,640,000 after acquiring an additional 22,060 shares during the last quarter. K2 Principal Fund L.P. raised its holdings in Seritage Growth Properties by 5.6% in the 4th quarter. K2 Principal Fund L.P. now owns 1,056,400 shares of the financial services provider’s stock valued at $3,433,000 after acquiring an additional 56,400 shares during the last quarter. Yakira Capital Management Inc. lifted its stake in shares of Seritage Growth Properties by 20.9% during the 4th quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock worth $3,240,000 after purchasing an additional 172,201 shares during the period. Towerview LLC lifted its stake in shares of Seritage Growth Properties by 14.3% during the 4th quarter. Towerview LLC now owns 800,000 shares of the financial services provider’s stock worth $2,600,000 after purchasing an additional 100,000 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Seritage Growth Properties by 0.5% during the fourth quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,050 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Price Performance

Seritage Growth Properties stock opened at $2.64 on Friday. Seritage Growth Properties has a 1 year low of $2.31 and a 1 year high of $4.56. The firm has a 50 day moving average price of $2.62 and a 200 day moving average price of $2.98. The company has a market cap of $148.71 million, a price-to-earnings ratio of -1.83 and a beta of 2.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.56) EPS for the quarter. The company had revenue of $2.05 million for the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Analyst Ratings Changes

A number of brokerages have recently commented on SRG. Weiss Ratings raised Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded Seritage Growth Properties from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Seritage Growth Properties Company Profile

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.