Seritage Growth Properties
Owns and sells former Sears real estate under a Plan of Sale.
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Profile
Owns former Sears retail real estate and is selling its remaining assets under a shareholder-approved Plan of Sale. Leasing, redevelopment, and asset sales have shaped its U.S. portfolio, while remaining debt and potential strategic transactions influence the end-stage process.
Owns and manages a shrinking portfolio of former Sears retail real estate while pursuing a shareholder-approved Plan of Sale. The remaining properties are concentrated in the United States and reflect earlier leasing, redevelopment, and conversion into retail, dining, entertainment, and mixed-use destinations.
Operations now focus on selling the remaining assets, managing them until disposition, and resolving remaining corporate debt. The company revoked its REIT election and became a taxable C corporation to support the strategic review and asset-sale options. The Plan of Sale authorizes asset sales, distributions of net proceeds, and potential dissolution, while potential transactions or strategic changes are not assured.
Company facts
Key statistics
Year to date −37.9% · Average volume (30d) 174.8K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | — | −$0.13 | — | $35.1M | $1.7M | −95.0% | 0.00% |
| May 15, 2026Q1 FY26 | — | −$0.56 | — | $35.1M | $2.0M | −94.3% | +4.56% |
| Mar 31, 2026Q4 FY25 | — | −$0.11 | — | $63.2M | $4.2M | −93.4% | −1.07% |
| Nov 10, 2025Q3 FY25 | — | −$0.22 | — | — | $4.8M | — | +0.97% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.6M | $4.7M | $4.8M | $4.2M | $2.0M | $1.7M | |
| Gross profit | $738.0K | $724.0K | $553.0K | −$250.0K | −$544.0K | −$129.0K | |
| Operating income | −$17.0M | −$5.4M | −$6.1M | −$5.9M | −$5.4M | −$4.8M | |
| Net income | −$22.2M | −$28.5M | −$12.4M | −$5.1M | −$31.5M | −$7.4M | |
| Diluted EPS | −$0.42 | −$0.53 | −$0.24 | −$0.12 | −$0.56 | −$0.13 | |
| Gross margin | 16.0% | 15.6% | 11.6% | -6.0% | -27.2% | -7.4% | |
| Operating margin | -370.3% | -117.1% | -126.8% | -141.1% | -271.9% | -277.0% |
Fiscal years (4-quarter sums)FY21 $116.7M · FY22 $107.1M · FY23 $20.8M · FY24 $17.6M · FY25 $18.2M
Balance sheet, Jun 30, 2026Cash & short-term investments $48.4M · Total debt $50.3M · Total assets $353.6M · Shareholders' equity $292.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 56.32M · Float 39.88M · 70.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Lampert Edward S · 10 percent owner | 13.42M | 23.83% | Form 4 | Sep 11, 2025 |
| Hotchkis and Wiley Capital Management, LLC | 3.13M | 5.55% | 13G | May 15, 2026 |
| Vanguard Portfolio Management LLC | 1.63M | 2.90% | 13F | May 8, 2026 |
| Vanguard Capital Management LLC | 1.63M | 2.90% | 13F | May 15, 2026 |
| Fourworld Capital Management LLC | 1.11M | 1.98% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 31, 2026 | Yakira Capital Management, Inc. | 10 percent owner | −27,150 | $23.95 |
| Feb 24, 2026 | Yakira Capital Management, Inc. | 10 percent owner | −2,225 | $24.10 |
| Feb 23, 2026 | Yakira Capital Management, Inc. | 10 percent owner | −7,375 | $23.95 |
| Feb 9, 2026 | Yakira Capital Management, Inc. | 10 percent owner | −5,570 | $24.10 |
| Feb 6, 2026 | Yakira Capital Management, Inc. | 10 percent owner | −810 | $24.10 |
Peers
- Macerich
Regional mall leasing, redevelopment, and anchor-space conversion
- Simon Property Group
Shopping and mixed-use destination leasing
- Kimco Realty
Open-air retail leasing and redevelopment at substantial U.S. scale
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Seritage Growth Properties | $2.11 | 0.00% | $118.8M | — | — | 9.4 | −62.5% |
| Macerich | $23.75 | +0.02% | $7.07B | — | 11,242.9 | 7.0 | −0.0% |
| Simon Property Group | $214.38 | −0.07% | $69.58B | 15.2 | 32.0 | 10.0 | +10.8% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| Median | 20.9 | 32.0 | 7.3 | +4.1% |