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Seritage (SRG)
NYSE:SRG
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Seritage
(NYSE:SRG)
46Neutral
Seritage (SRG) vs. S&P 500 (SPY)
Market Cap
$162.78M
Dividend YieldN/A
Average Volume (3M)172.72K
Price to Earnings (P/E)―
Beta (1Y)0.97
Revenue Growth-14.70%
EPS Growth1.10%
CountryUS
Employees19
SectorReal Estate
Sector Strength78
IndustryREIT - Retail
Share Statistics
EPS (TTM)-2.82
Shares Outstanding56,324,608
10 Day Avg. Volume212,750
30 Day Avg. Volume172,721
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.26
Price to Cash Flow (P/CF)-3.00
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Seritage Business Overview & Revenue Model
Company DescriptionSeritage Growth Properties (SRG) is a publicly traded real estate investment trust (REIT) that primarily owns, manages, and repositions retail properties throughout the United States. The company was initially formed to optimize the real estate assets previously owned by Sears Holdings, converting them into a diversified portfolio of retail, residential, and mixed-use spaces. Seritage focuses on enhancing the value of its properties through redevelopment and leasing to a wide range of retailers and commercial tenants.
How the Company Makes MoneySeritage makes money through the leasing of its real estate properties to various retail and commercial tenants. The company's primary revenue stream is rental income generated from these leases. By redeveloping and repositioning properties, Seritage aims to attract new tenants and increase occupancy rates, thereby boosting rental income. Additionally, the company may engage in property sales as part of its strategy to optimize its portfolio, providing another potential revenue stream. Partnerships with leading retailers and developers also contribute to the company's earnings by enhancing the appeal and value of its properties.
Seritage Financial Statement Overview
Summary
Seritage exhibits significant financial challenges, with negative profitability and high leverage. While there are slight improvements in revenue and free cash flow, negative margins and substantial debt levels remain critical concerns.Income Statement
Seritage has shown a consistent decline in revenue from previous years, with a TTM revenue of $22.3 million compared to $20.6 million in 2023, indicating slight growth. However, the company struggles with negative gross profit and net income, pointing to significant operational challenges. The negative EBIT and EBITDA margins further highlight profitability issues.25
Negative
Balance Sheet
The company maintains a relatively high debt-to-equity ratio, reflecting significant leverage, though it has improved from 2023. Stockholders' equity has decreased, raising concerns about financial stability. The equity ratio remains moderate, indicating some degree of reliance on debt.30
Negative
Cash Flow
Seritage has shown a positive free cash flow in TTM due to significant capital expenditures, but the operating cash flow has been negative in past years. The cash flow to net income ratios suggest challenges in converting income to cash, though there have been improvements in free cash flow recently.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 22.31M | 20.58M | 107.06M | 116.68M | 116.50M | 168.63M | Gross Profit |
| -11.35M | -6.83M | 41.34M | 36.42M | 38.56M | 87.92M | EBIT |
| -50.23M | -54.98M | -81.74M | -56.67M | -85.84M | -66.99M | EBITDA |
| -36.25M | -52.62M | -6.30M | -5.47M | 34.60M | 108.69M | Net Income Common Stockholders |
| -138.50M | -154.91M | -120.10M | -38.98M | -152.96M | -90.60M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 40.70M | 134.00M | 133.48M | 106.60M | 143.73M | 139.26M | Total Assets |
| 2.86B | 973.86M | 1.84B | 2.41B | 2.65B | 2.75B | Total Debt |
| 1.16B | 367.60M | 1.04B | 1.47B | 1.63B | 1.61B | Net Debt |
| 1.13B | 233.60M | 902.19M | 1.36B | 1.48B | 1.47B | Total Liabilities |
| 1.23B | 410.70M | 1.12B | 1.57B | 1.77B | 1.71B | Stockholders Equity |
| 895.28M | 561.99M | 720.47M | 687.74M | 649.04M | 731.42M |
| Cash Flow | Free Cash Flow | ||||
| 747.46M | -785.97M | -692.07M | -384.12M | -89.03M | 243.71M | Operating Cash Flow |
| 101.89M | -53.06M | -117.92M | -136.00M | -47.31M | -57.66M | Investing Cash Flow |
| 6.60M | 732.91M | 586.08M | 260.71M | 42.87M | -299.49M | Financing Cash Flow |
| -125.13M | -675.09M | -436.97M | -161.21M | 15.44M | -36.45M |
Seritage Technical Analysis
Negative
2.72
Price Trends
3.52
Negative
3.84
Negative
4.22
Negative
Market Momentum
-0.12
Positive
29.98
Positive
12.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRG, the sentiment is Negative. The current price of 2.72 is below the 20-day moving average (MA) of 3.27, below the 50-day MA of 3.52, and below the 200-day MA of 4.22, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 29.98 is Positive, neither overbought nor oversold. The STOCH value of 12.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRG.
Seritage Risk Analysis
Seritage disclosed 43 risk factors in its most recent earnings report. Seritage reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Seritage Peers Comparison
Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $7.64B | 22.41 | 11.61% | 4.61% | 3.41% | 10.54% | |
68 Neutral | $57.75B | 20.30 | 80.78% | 5.65% | 5.40% | 8.57% | |
61 Neutral | $4.44B | 16.16 | -3.31% | 11.40% | 5.81% | -21.40% | |
61 Neutral | $767.83M | 13.30 | 17.79% | 6.72% | -3.68% | 990.23% | |
53 Neutral | $4.10B | ― | -7.50% | 4.36% | 4.88% | -66.88% | |
46 Neutral | $162.78M | ― | -31.77% | ― | -14.70% | 1.10% | |
42 Neutral | $131.07M | ― | -32.96% | 8.70% | -32.95% | -45.50% |
* Real Estate Sector Average
Performance Comparison
SRG
Seritage
2.72
-6.96
-71.90%
MAC
Macerich
14.52
-1.08
-6.92%
SPG
Simon Property
146.05
2.95
2.06%
BRX
Brixmor Property
23.96
2.68
12.59%
RPT
Rithm Property Trust
2.58
-0.96
-27.12%
CBL
CBL & Associates Properties
23.80
3.13
15.14%
Seritage Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Seritage Announces Leadership Change with New Interim CEO
Neutral
Mar 28, 2025
On March 28, 2025, Seritage Growth Properties announced that Andrea L. Olshan will step down as CEO and President effective April 11, 2025, with Adam Metz appointed as Interim CEO. This leadership change aligns with the company’s strategic plan, which has seen its portfolio reduced significantly since 2022. The transition is part of Seritage’s ongoing efforts to streamline operations and pursue its shareholder-approved Plan of Sale, reflecting a shift in the company’s leadership needs.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.