Yakira Capital Management Inc. Sells 265,825 Shares of Seritage Growth Properties $SRG

Yakira Capital Management Inc. cut its position in shares of Seritage Growth Properties (NYSE:SRG) by 24.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 824,653 shares of the financial services provider’s stock after selling 265,825 shares during the quarter. Seritage Growth Properties accounts for 1.2% of Yakira Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. Yakira Capital Management Inc.’s holdings in Seritage Growth Properties were worth $3,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Seritage Growth Properties by 15.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider’s stock worth $980,000 after acquiring an additional 41,711 shares during the period. XTX Topco Ltd increased its position in shares of Seritage Growth Properties by 309.3% during the second quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 47,259 shares during the period. Worth Venture Partners LLC raised its stake in shares of Seritage Growth Properties by 19.8% in the second quarter. Worth Venture Partners LLC now owns 77,500 shares of the financial services provider’s stock valued at $239,000 after purchasing an additional 12,800 shares in the last quarter. Invesco Ltd. acquired a new position in shares of Seritage Growth Properties in the second quarter valued at $60,000. Finally, Marshall Wace LLP lifted its position in Seritage Growth Properties by 135.7% in the second quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 250,989 shares during the period. 78.93% of the stock is currently owned by institutional investors.

Seritage Growth Properties Price Performance

SRG opened at $2.90 on Monday. The firm’s 50-day simple moving average is $3.27 and its 200-day simple moving average is $3.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 10.13 and a current ratio of 10.13. Seritage Growth Properties has a twelve month low of $2.43 and a twelve month high of $4.56. The firm has a market cap of $163.36 million, a price-to-earnings ratio of -2.04 and a beta of 2.43.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seritage Growth Properties in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.