SRG News and Press, Seritage Growth Properties Class A From 08/30/22

Summary After showing renewed signs of life following a solid earnings season, Mall REITs are again the worst-performing major property sector in 2022 as recession concerns have offset modestly-improving fundamentals. A microcosm of broader macroeconomic trends, mall sector dynami...

The REIT sector has achieved gains in only 2 of the first 7 months of 2022, including a +9.74% total return in July. Small cap (+11.68%) and mid cap (+9.09%) REITs had the greatest total returns, while large caps (+8.72%) and micro caps (+6.73%) saw more modest gains in July. A re...

Berkshire Hathaway's 13F stock portfolio value decreased from ~$364B to ~$300B. Their largest three holdings are at ~60% of the entire portfolio. Berkshire Hathaway increased Occidental Petroleum, Ally Financial and Paramount Global while decreasing STORE Capital and General Motor...

Last month, Seritage Growth Properties filed preliminary proxy documents asking shareholders to approve a plan of sale that would effectively liquidate the company. Seritage stock currently trades at a steep discount to the anticipated distribution range of $18.50-$29 per share. B...

Seritage press release ( NYSE: SRG ): Q2 GAAP EPS of -$2.56. Revenue of $29.7M (+6.6% Y/Y). Total Net Operating Income of $10.6 million, which is an increase of 26% when compared to assets held in the same manner at June 30, 2021 As of June 30, 2022, the Company ha...

Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of 150 retail, residential and mixed-use properties today reported financial and operating results for the three and six months ended June 30, 2022. “This has been an extremel...

Over the past few days, there have been some monster moves across a number of Russell 3,000 stocks. Taking a look at the Russell 3,000 members that had at least been cut in half from the time of the index’s high on January 3rd through the low on June 16th, followed by a rally o...

Seritage Growth Properties ( NYSE: SRG ) said Monday it made a voluntary prepayment of $100M toward its $1.6B term loan facility. Now $1.34B of the loan facility remains outstanding. The prepayment will also reduce SRG's total annual interest expense related to the loa...

Seritage Growth Properties (NYSE: SRG) (the “Company”), a national owner and developer of 161 retail, residential and mixed-use properties, today announced that on August 5, 2022, the Company made a voluntary prepayment of $100 million toward its $1.6 billion term loan fac...

With real estate earnings season kicking off this week, this report discusses the major themes and metrics we'll be watching across each of the major property sectors this earnings season. Since the start of last earnings season, the Equity REIT Index has declined 16%, lagging the 12%...