Harbor Capital Advisors Inc. Trims Stock Position in Seritage Growth Properties $SRG

Harbor Capital Advisors Inc. cut its holdings in Seritage Growth Properties (NYSE:SRG) by 72.3% during the third quarter, HoldingsChannel reports. The fund owned 85,517 shares of the financial services provider’s stock after selling 223,008 shares during the period. Harbor Capital Advisors Inc.’s holdings in Seritage Growth Properties were worth $363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Seritage Growth Properties by 1.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 695,994 shares of the financial services provider’s stock valued at $2,144,000 after purchasing an additional 9,000 shares during the period. Brevan Howard Capital Management LP increased its position in shares of Seritage Growth Properties by 89.2% during the 2nd quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 9,839 shares during the last quarter. Worth Venture Partners LLC raised its holdings in Seritage Growth Properties by 19.8% in the 2nd quarter. Worth Venture Partners LLC now owns 77,500 shares of the financial services provider’s stock valued at $239,000 after buying an additional 12,800 shares during the period. Sandia Investment Management LP lifted its position in Seritage Growth Properties by 22.0% in the second quarter. Sandia Investment Management LP now owns 93,887 shares of the financial services provider’s stock valued at $289,000 after buying an additional 16,900 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in Seritage Growth Properties during the second quarter worth about $60,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

Seritage Growth Properties Price Performance

SRG opened at $3.30 on Tuesday. The stock’s 50-day moving average price is $3.71 and its 200 day moving average price is $3.59. Seritage Growth Properties has a 12-month low of $2.43 and a 12-month high of $4.56. The firm has a market cap of $185.65 million, a price-to-earnings ratio of -2.32 and a beta of 2.33. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Friday, November 14th. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter. The business had revenue of $4.79 million for the quarter. Seritage Growth Properties had a negative return on equity of 20.13% and a negative net margin of 404.37%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seritage Growth Properties in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average 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.