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Seritage
(NYSE:SRG)
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Rating:46Neutral
Price Target:
$2.50
▼(-17.76% Downside)
Action:Reiterated
Date:07/09/26
The score is held down primarily by weak financial performance—sharp TTM revenue decline, deep losses, and ongoing negative operating and free cash flow—despite improved leverage. Technicals are neutral (range-bound near short-term averages but still below longer-term trends), while valuation is constrained by a negative P/E and no provided common dividend yield. Corporate events add a modest offset via potential asset monetization, but governance pushback is a notable risk.
Positive Factors
Improved leverage / stronger balance sheet
Reported zero total debt on a TTM basis and sizable equity versus assets materially reduces interest and refinancing risk, giving the company balance sheet flexibility to pursue redevelopments or withstand operating losses. This improvement supports capital recycling and optionality over months.
Negative Factors
Negative operating and free cash flow
Sustained negative operating and free cash flow erodes internal funding capacity, forcing reliance on asset sales or external capital to fund operations and redevelopments. Over 2–6 months this reduces financial flexibility and increases execution risk for entitlement‑dependent projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage / stronger balance sheet
Reported zero total debt on a TTM basis and sizable equity versus assets materially reduces interest and refinancing risk, giving the company balance sheet flexibility to pursue redevelopments or withstand operating losses. This improvement supports capital recycling and optionality over months.
Read all positive factors
Seritage (SRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$147.01M
Dividend YieldN/A
Average Volume (3M)186.01K
Price to Earnings (P/E)―
Beta (1Y)0.84
Revenue Growth-5.08%
EPS Growth49.80%
CountryUS
Employees5
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)-1.45
Shares Outstanding56,324,608
10 Day Avg. Volume202,552
30 Day Avg. Volume186,010
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)0.55
Price to Sales (P/S)10.05
P/FCF Ratio-5.24
Enterprise Value/Market Cap1.04
Enterprise Value/Revenue9.84
Enterprise Value/Gross Profit317.94
Enterprise Value/Ebitda-3.64
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Seritage Business Overview & Revenue Model
Company Description
Seritage Growth Properties functions as a publicly traded Real Estate Investment Trust (REIT) that independently manages its operations and extensive property holdings. Its portfolio includes 166 fully owned assets and an interest in 29 unconsolid...
How the Company Makes Money
Seritage primarily makes money through real estate operations and asset monetization. Its core revenue stream is rental income generated from leasing space in its owned properties to tenants; this includes base rent and, where applicable, addition...
Seritage Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.20M | 17.62M | 20.78M | 107.06M | 116.68M |
| Gross Profit | 1.76M | -2.65M | -6.63M | 41.34M | 36.42M |
| EBITDA | -41.51M | -113.67M | -95.66M | 8.44M | 120.56M |
| Net Income | -68.22M | -153.54M | -154.91M | -73.94M | -28.15M |
Balance Sheet | |||||
| Total Assets | 393.78M | 677.77M | 973.86M | 1.84B | 2.41B |
| Cash, Cash Equivalents and Short-Term Investments | 48.09M | 85.21M | 134.00M | 133.48M | 106.60M |
| Total Debt | 47.68M | 240.00M | 367.60M | 1.03B | 1.46B |
| Total Liabilities | 60.98M | 271.97M | 410.70M | 1.12B | 1.57B |
| Stockholders Equity | 331.42M | 404.46M | 561.99M | 720.47M | 687.74M |
Cash Flow | |||||
| Free Cash Flow | -34.90M | -53.55M | -785.97M | -692.07M | -384.12M |
| Operating Cash Flow | -34.90M | -53.55M | -53.06M | -117.92M | -136.00M |
| Investing Cash Flow | 198.47M | 126.87M | 732.91M | 586.08M | 260.71M |
| Financing Cash Flow | -198.99M | -125.31M | -675.09M | -436.97M | -161.21M |
Seritage Technical Analysis
Negative
3.04
Price Trends
2.63
Positive
2.70
Negative
3.19
Negative
Market Momentum
>-0.01
Positive
49.05
Neutral
46.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRG, the sentiment is Negative. The current price of 3.04 is above the 20-day moving average (MA) of 2.64, above the 50-day MA of 2.63, and below the 200-day MA of 3.19, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 49.05 is Neutral, neither overbought nor oversold. The STOCH value of 46.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRG.
Seritage Risk Analysis
Seritage disclosed 44 risk factors in its most recent earnings report. Seritage reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Seritage Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.62B | 9.19 | 49.14% | 6.79% | 10.29% | 160.54% | |
67 Neutral | $886.72M | 23.88 | 11.80% | 7.89% | 8.31% | -28.42% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
59 Neutral | $225.12M | 1.28 | 47.95% | ― | -67.13% | -68.06% | |
54 Neutral | $339.91M | -274.63 | 0.27% | 7.01% | 19.95% | -181.87% | |
46 Neutral | $147.01M | -1.81 | -23.49% | ― | -5.08% | 49.80% | |
41 Neutral | $1.24M | ― | 20.26% | ― | -4.01% | 99.98% |
* Real Estate Sector Average
SRG
Seritage
2.63
-0.63
-19.33%
SITC
SITE Centers
4.27
-1.90
-30.82%
BFS
Saul Centers
36.29
4.88
15.55%
WHLR
Wheeler Real Estate Investment
0.37
-1,846.44
-99.98%
PINE
Alpine Income Property Trust Inc
20.35
6.81
50.33%
CBL
CBL & Associates Properties
51.70
26.95
108.91%
Seritage Corporate Events
Business Operations and StrategyExecutive/Board Changes
Seritage Growth Properties Updates CEO Employment Agreement
Positive
Jul 8, 2026
On July 1, 2026, Seritage Growth Properties amended and restated its employment agreement with Adam Metz, confirming his continued roles as Chief Executive Officer and President. The revised contract maintains his annual base salary at $1,100,000 ...
Executive/Board ChangesShareholder Meetings
Seritage Shareholders Challenge Board Elections and Executive Pay
Negative
Jun 11, 2026
On June 9, 2026, Seritage shareholders held their annual meeting, where six incumbent trustees stood for re‑election but failed to secure the two‑thirds vote required under company bylaws. Despite this shortfall, the trustees will cont...
Business Operations and StrategyM&A Transactions
Seritage Enters Option Agreement to Monetize Dallas Property
Positive
Jun 1, 2026
On June 1, 2026, a Seritage Growth Properties subsidiary agreed to an option purchase and sale arrangement with Arena Development Intermediate, LLC for its Dallas, Texas property at a base price of $50.76 million, subject to customary adjustments,...
Dividends
Seritage Declares Quarterly Dividend on Series A Preferred Shares
Positive
Apr 20, 2026
On April 20, 2026, the Board of Trustees of Seritage Growth Properties declared a cash dividend of $0.4375 per share on its 7.00% Series A Cumulative Redeemable Preferred Shares. The dividend, scheduled to be paid on July 15, 2026 to shareholders ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.