Seritage Growth Properties Class A (SRG)

In the past six months, Seritage Growth Properties has experienced several events related to its "Plan of Sale" and financial management. The company made significant loan prepayments, including $20 million in December 2025 and $130 million in November 2025, as part of a debt reduction strategy. Seritage reported its Third Quarter 2025 operating results in November 2025, which included an impairment charge, and Second Quarter 2025 results in August 2025, highlighting asset sales progress and the extension of its Term Loan Facility maturity date. The company completed the sale of three properties for approximately $31 million in Q2 2025 and had three more assets under contract, with negotiations ongoing for five additional assets. SRG's stock has experienced a decline of approximately 10.26% to 16.22% over the past year, with some modest gains in early January 2026 due to broader market strength.

Given Seritage Growth Properties' current business model focused on liquidating its real estate assets, the concept of demand seasonality is not directly applicable. However, the pace and pricing of its asset sales could be indirectly influenced by broader real estate market conditions, which can exhibit seasonal trends.

Seritage Growth Properties (SRG) is a publicly traded REIT focused on the ownership, leasing, and redevelopment of retail, residential, and mixed-use properties across the United States. The company transforms its portfolio of properties, often former Sears and Kmart stores, into mixed-use destinations. Its offerings include retail real estate, redevelopment projects, tenant leasing, property management, and capital markets activities.

Seritage Growth Properties has a national geographic footprint across the United States. As of September 30, 2025, the company's portfolio consisted of interests in 13 properties, totaling approximately 1.3 million square feet of gross leasable area (GLA) or build-to-suit leased area and 198 acres of land. Earlier data from 2024 indicated a broader reach of 154 wholly-owned properties and 25 unconsolidated properties across 41 states and Puerto Rico, totaling approximately 26 million square feet. However, the company has been actively divesting properties as part of a "Plan of Sale" approved by shareholders in October 2022.

Seritage Growth Properties' brand reputation in the past year has been defined by its strategic shift towards liquidation and asset sales. The company's "Plan of Sale" has positioned it as a company winding down its operations to maximize shareholder value through asset divestment. Positive sentiment has been associated with the company's progress in asset sales and loan prepayments. There was a leadership transition with Adam Metz replacing Andrea Olshan as CEO. Analyst sentiment is mixed, with some seeing potential upside and others viewing Seritage as risky and overvalued.

Ownership of Seritage Growth Properties is highly concentrated, with institutional investors holding approximately 39.72% to 41.55% of the outstanding shares. Key institutional owners include Hotchkis & Wiley Capital Management Llc and Vanguard Group Inc. Insider ownership is also high, accounting for 60.26% of the company, with Edward S. Lampert being the largest individual shareholder, owning 24.17% of the company, and Bruce R. Berkowitz holding 22.10%.