Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
---|---|---|---|---|---|---|
Income Statement | ||||||
Total Revenue | 16.40M | 17.62M | 20.58M | 107.06M | 116.68M | 116.50M |
Gross Profit | -8.02M | -2.65M | -6.83M | 41.34M | 36.42M | 38.56M |
EBITDA | -40.92M | -144.39M | -52.62M | -6.30M | -5.47M | 34.60M |
Net Income | -157.98M | -153.54M | -154.91M | -120.10M | -38.98M | -152.96M |
Balance Sheet | ||||||
Total Assets | 649.70M | 677.77M | 973.86M | 1.84B | 2.41B | 2.65B |
Cash, Cash Equivalents and Short-Term Investments | 94.27M | 85.21M | 134.00M | 133.48M | 106.60M | 143.73M |
Total Debt | 0.00 | 240.00M | 367.60M | 1.04B | 1.47B | 1.63B |
Total Liabilities | 267.25M | 271.97M | 410.70M | 1.12B | 1.57B | 1.77B |
Stockholders Equity | 381.10M | 404.46M | 561.99M | 720.47M | 687.74M | 649.04M |
Cash Flow | ||||||
Free Cash Flow | -46.12M | -53.55M | -785.97M | -692.07M | -384.12M | -89.03M |
Operating Cash Flow | -46.12M | -53.55M | -53.06M | -117.92M | -136.00M | -47.31M |
Investing Cash Flow | 117.80M | 126.87M | 732.91M | 586.08M | 260.71M | 42.87M |
Financing Cash Flow | -95.31M | -125.31M | -675.09M | -436.97M | -161.21M | 15.44M |
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
---|---|---|---|---|---|---|---|
72 Outperform | $799.38M | 12.01 | 21.87% | 6.30% | 0.03% | 1997.67% | |
72 Outperform | $602.07M | 1.11 | 42.15% | 3.88% | -42.71% | 152.66% | |
71 Outperform | $840.28M | 23.54 | 13.86% | 6.91% | 5.00% | -14.72% | |
63 Neutral | $6.96B | 19.11 | -1.16% | 6.97% | 4.71% | -24.99% | |
60 Neutral | $208.86M | 158.96 | 0.47% | 7.79% | 14.71% | ― | |
53 Neutral | $172.92M | ― | -33.95% | ― | -36.26% | -38.17% | |
48 Neutral | $6.66M | ― | 4.42% | ― | 1.47% | 99.15% |
Seritage Growth Properties has appointed Adam Metz as its Chief Executive Officer and President on a non-interim basis, effective July 1, 2025. Metz, who has a significant background in real estate and has held leadership roles in various companies, including Hammerson plc and Carlyle Group, will continue as Board Chairman. His appointment follows his interim role starting April 11, 2025. The new employment agreement includes a one-year term with a base salary of $1,100,000 and a target bonus of $1,225,000, subject to performance goals. This move is expected to bring stability and experienced leadership to Seritage as it navigates its strategic goals.
On June 11, 2025, Seritage Growth Properties announced a voluntary prepayment of $40 million on its $1.6 billion Senior Secured Term Loan Agreement with Berkshire Hathaway Life Insurance Company of Nebraska. This prepayment reduces the outstanding amount to $200 million and decreases the company’s annual interest expenses by approximately $2.8 million. Since December 2021, Seritage has repaid a total of $1.4 billion, significantly lowering its interest expenses by about $99.4 million, which reflects a strategic move to improve its financial position and reduce debt-related costs.
On June 10, 2025, Seritage held its annual meeting of shareholders, where several key decisions were made. The shareholders re-elected six trustees, including John T. McClain and Adam Metz, each receiving the required two-thirds majority vote. Additionally, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2025 was ratified. However, the shareholders rejected the advisory, non-binding resolution to approve the executive compensation program for the company’s named executive officers, as it did not receive the majority vote needed for approval.
On May 8, 2025, Seritage Growth Properties announced a cash dividend of $0.4375 per share for its 7.00% Series A Cumulative Redeemable Preferred Shares. This dividend will be distributed on July 15, 2025, to shareholders recorded by June 30, 2025.