Seritage Earnings: A Big Step Forward [The Motley Fool]
Seritage Growth Properties Class A (SRG)
NASDAQ:AMEX Investor Relations:
ir.seritage.com
Company Research
Source: The Motley Fool
Sequential NOI growth is improving, leasing activity is accelerating, and Seritage has started to reduce its unwieldy debt load.Seritage Growth Properties(SRG0.90%Under new CEO Andrea Olshan, Seritage has begun to enact a strategy shift over the past year. The company's fourth-quarter earnings report showed that the real estate investment trust (REITSequential improvement acceleratesIn November, Seritage Growth Properties reported that itsnet operating incomeThe company's recent fourth-quarter report held better news. Total NOI improved to $10.5 million, up from $8.1 million a quarter earlier. Meanwhile, Seritage closed a dozen asset sales for total proceeds of $191.6 million last quarter. That nearly matched the $201 million it raised from asset sales in the first three quarters of 2021 combined.This big asset-sale windfall enabled Seritage to repay $160 million of debt at the end of the quarter, reducing its term-loan balance from $1.6 billion to $1.44 billion. That will reduce annu
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SRG
News
- Seritage Growth Properties Makes $50 Million Loan PrepaymentBusiness Wire
- This Company Is Shutting Down Its Business -- and Could Have 74% Upside for Investors [Yahoo! Finance]Yahoo! Finance
- Seritage: Making Progress In A Tough Environment [Seeking Alpha]Seeking Alpha
- Seritage Growth Properties Reports Fourth Quarter and Full Year 2023 Operating Results [Yahoo! Finance]Yahoo! Finance
- Seritage Growth Properties Reports Fourth Quarter and Full Year 2023 Operating ResultsBusiness Wire
SRG
Sec Filings
- 4/24/24 - Form 8-K
- 4/23/24 - Form ARS
- 4/23/24 - Form DEF
- SRG's page on the SEC website