Waterfront Wealth Inc. Trims Stock Position in Seritage Growth Properties (NYSE:SRG)

Waterfront Wealth Inc. reduced its position in shares of Seritage Growth Properties (NYSE:SRG) by 60.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,550 shares of the financial services provider’s stock after selling 19,000 shares during the period. Waterfront Wealth Inc.’s holdings in Seritage Growth Properties were worth $59,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its position in shares of Seritage Growth Properties by 183.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 117,785 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 76,213 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in shares of Seritage Growth Properties by 10.0% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 752,840 shares of the financial services provider’s stock worth $7,265,000 after acquiring an additional 68,309 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in Seritage Growth Properties by 1.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 4,839,080 shares of the financial services provider’s stock valued at $45,245,000 after buying an additional 47,740 shares during the period. Gabelli Funds LLC boosted its stake in shares of Seritage Growth Properties by 6.1% during the first quarter. Gabelli Funds LLC now owns 799,644 shares of the financial services provider’s stock valued at $7,717,000 after purchasing an additional 45,708 shares during the period. Finally, Corsair Capital Management L.P. bought a new position in shares of Seritage Growth Properties during the fourth quarter valued at about $280,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Seritage Growth Properties Trading Down 1.3 %

Shares of SRG stock opened at $4.65 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 7.95 and a current ratio of 7.95. Seritage Growth Properties has a 52-week low of $3.63 and a 52-week high of $9.87. The stock has a fifty day simple moving average of $4.74 and a two-hundred day simple moving average of $6.91. The firm has a market capitalization of $261.61 million, a PE ratio of -2.22 and a beta of 2.58.

Seritage Growth Properties Company Profile

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.