ExodusPoint Capital Management LP Makes New Investment in Seritage Growth Properties (NYSE:SRG)

ExodusPoint Capital Management LP purchased a new position in Seritage Growth Properties (NYSE:SRG) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 212,596 shares of the financial services provider’s stock, valued at approximately $1,673,000. ExodusPoint Capital Management LP owned about 0.38% of Seritage Growth Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SRG. Fifth Lane Capital LP increased its position in shares of Seritage Growth Properties by 38.3% in the fourth quarter. Fifth Lane Capital LP now owns 55,300 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 15,300 shares during the last quarter. Vazirani Asset Management LLC boosted its position in shares of Seritage Growth Properties by 31.6% during the fourth quarter. Vazirani Asset Management LLC now owns 100,000 shares of the financial services provider’s stock valued at $1,183,000 after buying an additional 24,000 shares during the last quarter. JBF Capital Inc. boosted its position in shares of Seritage Growth Properties by 25.0% during the fourth quarter. JBF Capital Inc. now owns 50,000 shares of the financial services provider’s stock valued at $592,000 after buying an additional 10,000 shares during the last quarter. Yakira Capital Management Inc. boosted its position in shares of Seritage Growth Properties by 174.7% during the fourth quarter. Yakira Capital Management Inc. now owns 307,087 shares of the financial services provider’s stock valued at $3,633,000 after buying an additional 195,306 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Seritage Growth Properties in the first quarter worth about $56,000. 41.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Odeon Capital Group assumed coverage on Seritage Growth Properties in a research report on Wednesday, July 12th. They set a “buy” rating and a $14.00 price objective on the stock.

Seritage Growth Properties Trading Up 0.1 %

Shares of NYSE:SRG opened at $7.56 on Friday. The business’s 50-day moving average is $8.75 and its 200 day moving average is $8.76. Seritage Growth Properties has a 1 year low of $7.11 and a 1 year high of $13.06. The firm has a market capitalization of $424.74 million, a P/E ratio of -5.72 and a beta of 2.68. The company has a debt-to-equity ratio of 0.98, a current ratio of 7.96 and a quick ratio of 7.96.

Seritage Growth Properties 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 March 31, 2023, the Company's portfolio consisted of interests in 72 properties comprised of approximately 10.2 million square feet of gross leasable area (GLA) or build-to-suit leased area, approximately 157 acres held for or under development and approximately 5.3 million square feet or approximately 428 acres to be disposed of.