Seritage Growth Properties (SRG)
NYSEReal EstateReit - RetailSnapshot 2026-09-04
$2.08-4.15%
Close 2026-09-04 · 1-day change
NYSEReal EstateReit - RetailSnapshot 2026-09-04
Intact: The reason to own it still holds.
Seritage Growth Properties is a self-managed REIT with 166 owned properties. It maintains a stable preferred dividend of $0.4375 per share. The company is actively managing its portfolio with recent M&A activity. This shows potential for recovery despite current losses.
The company is loss-making with negative free cash flow yield. Analysts expect revenue to decline about 25% next year. The sector faces headwinds and management is volatile. These factors may prevent a turnaround.
The market expects about a 25% revenue decline next year, reflecting a weak outlook. Our fair value is $0.32, indicating limited upside given current challenges.
Breaks if: no material M&A or asset sales completed by end 2026
Breaks if: preferred dividend falls below $0.44 per share next quarter
Breaks if: revenue decline worse than -25% YoY in FY26
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround situation. The current thesis state indicates mixed progress on management priorities and a volatile management track record, contributing to uncertainty in the near term.
The market appears to price in a fragile situation, as the valuation is considered expensive relative to peers. There is an expectations gap, suggesting that investors may not fully account for the company's recent struggles and the broader sector headwinds.
Fundamentals are likely to remain weak in the near term, given the company's recent financial performance and a high probability of missing estimates. Management's efforts to monetize assets and maintain dividends show some progress, but the overall trajectory is mixed.
The long-term thesis hinges on several factors, including the potential for the Federal Reserve to cut interest rates, which could benefit SRG and the real estate sector. Additionally, performance from sector leaders could provide momentum, while any guidance cuts from SRG would negatively impact sentiment.
In the next 1 to 3 years, SRG's performance will depend on management's execution and external market conditions. Not investment advice.
The most important moves since the prior daily snapshot.
Our read on the company is unchanged since the prior snapshot.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.