GABELLI & Co INVESTMENT ADVISERS INC. Reduces Stock Position in Seritage Growth Properties (NYSE:SRG)

GABELLI & Co INVESTMENT ADVISERS INC. cut its position in shares of Seritage Growth Properties (NYSE:SRG - Free Report) by 38.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 454,612 shares of the financial services provider's stock after selling 279,278 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.81% of Seritage Growth Properties worth $1,873,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SRG. FIL Ltd increased its position in Seritage Growth Properties by 23.8% during the 4th quarter. FIL Ltd now owns 1,903,300 shares of the financial services provider's stock worth $7,842,000 after purchasing an additional 366,108 shares in the last quarter. Yakira Capital Management Inc. grew its stake in Seritage Growth Properties by 9.9% during the fourth quarter. Yakira Capital Management Inc. now owns 1,008,499 shares of the financial services provider's stock worth $4,155,000 after buying an additional 90,636 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Seritage Growth Properties in the fourth quarter worth $223,000. Gamco Investors INC. ET AL raised its stake in shares of Seritage Growth Properties by 8.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 246,643 shares of the financial services provider's stock valued at $1,016,000 after acquiring an additional 19,800 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Seritage Growth Properties by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 457,468 shares of the financial services provider's stock valued at $1,885,000 after acquiring an additional 18,528 shares in the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.

Seritage Growth Properties Stock Up 3.0 %

Seritage Growth Properties stock traded up $0.09 during trading on Friday, reaching $2.89. 261,588 shares of the company's stock were exchanged, compared to its average volume of 364,616. The company's 50-day moving average is $3.27 and its two-hundred day moving average is $3.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 8.10 and a current ratio of 8.10. Seritage Growth Properties has a 52-week low of $2.43 and a 52-week high of $9.54. The firm has a market cap of $162.50 million, a price-to-earnings ratio of -1.13 and a beta of 2.28.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its earnings results on Monday, March 31st. The financial services provider reported ($0.23) EPS for the quarter. Seritage Growth Properties had a negative net margin of 618.09% and a negative return on equity of 10.60%. The company had revenue of $4.38 million for the quarter. During the same quarter in the prior year, the firm posted $0.08 EPS.

About Seritage Growth Properties

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.