Cygnus Capital Advisors LLC Acquires 409,911 Shares of Seritage Growth Properties $SRG

Cygnus Capital Advisors LLC grew its holdings in Seritage Growth Properties (NYSE:SRG) by 48.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,261,358 shares of the financial services provider’s stock after purchasing an additional 409,911 shares during the quarter. Seritage Growth Properties comprises approximately 2.2% of Cygnus Capital Advisors LLC’s holdings, making the stock its 20th largest position. Cygnus Capital Advisors LLC’s holdings in Seritage Growth Properties were worth $3,318,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SRG. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Seritage Growth Properties by 0.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock worth $19,640,000 after buying an additional 22,060 shares during the last quarter. Newtyn Management LLC grew its position in Seritage Growth Properties by 5,411.3% in the second quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider’s stock valued at $5,960,000 after acquiring an additional 2,225,110 shares during the last quarter. K2 Principal Fund L.P. grew its position in Seritage Growth Properties by 5.6% in the fourth 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. Towerview LLC raised its stake in Seritage Growth Properties by 28.7% during the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 230,000 shares in the last quarter. Finally, Yakira Capital Management Inc. lifted its holdings in shares of Seritage Growth Properties by 20.9% in the fourth quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock worth $3,240,000 after acquiring an additional 172,201 shares during the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.

Analysts Set New Price Targets

SRG has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings cut shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Seritage Growth Properties Price Performance

Seritage Growth Properties stock opened at $2.08 on Tuesday. The stock has a 50-day moving average price of $2.38 and a two-hundred day moving average price of $2.59. Seritage Growth Properties has a 12 month low of $2.01 and a 12 month high of $4.56. The company has a market capitalization of $117.17 million, a PE ratio of -2.00 and a beta of 2.19. The company has a current ratio of 18.98, a quick ratio of 18.98 and a debt-to-equity ratio of 0.17.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings results on Friday, August 14th. The financial services provider reported ($0.13) earnings per share for the quarter. Seritage Growth Properties had a negative return on equity of 17.06% and a negative net margin of 419.02%.The firm had revenue of $1.87 million for the quarter.

Seritage Growth Properties 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.