Seritage Growth Properties (SRG)
Market Price (8/8/2026): $2.43 | Market Cap: $136.9 MilSector: Real Estate | Industry: Real Estate Services
Seritage Growth Properties (SRG)
Market Price (8/8/2026): $2.43Market Cap: $136.9 MilSector: Real EstateIndustry: Real Estate Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 47% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Experiential Retail, Show more. | Weak multi-year price returns2Y Excs Rtn is -97%, 3Y Excs Rtn is -146% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -36 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -200% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -31%, Rev Chg QQuarterly Revenue Change % is -4.9% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -192%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -192% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54% Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 29.78 Key risksSRG key risks include [1] significant challenges executing its asset liquidation plan in an adverse market, Show more. |
| Low stock price volatilityVol 12M is 47% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Sustainable & Green Buildings, and Smart Buildings & Proptech. Themes include Experiential Retail, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -97%, 3Y Excs Rtn is -146% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -36 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -200% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -31%, Rev Chg QQuarterly Revenue Change % is -4.9% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -192%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -192% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -54% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 29.78 |
| Key risksSRG key risks include [1] significant challenges executing its asset liquidation plan in an adverse market, Show more. |
Qualitative Assessment
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Seritage Growth Properties (SRG) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Deteriorating Fiscal Q1 2026 Financial Performance and Sustained Losses.
Seritage Growth Properties reported a net loss attributable to common shareholders of $31.5 million, or ($0.56) per share, for fiscal Q1 2026 (ended March 31, 2026). This represented a significant widening of losses and a substantial decline in total revenue by 55.4% year-over-year to $2.05 million.
2. Recognition of Significant Impairment Charges.
The company recognized approximately $20.4 million in impairment charges during fiscal Q1 2026, comprising $15.2 million on a consolidated property and $5.2 million related to an unconsolidated entity. These charges reduced the book value of assets and underscored ongoing challenges in the valuation and performance of its property portfolio, contributing to negative investor sentiment.
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Seritage Growth Properties (SRG) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Deteriorating Fiscal Q1 2026 Financial Performance and Sustained Losses.
Seritage Growth Properties reported a net loss attributable to common shareholders of $31.5 million, or ($0.56) per share, for fiscal Q1 2026 (ended March 31, 2026). This represented a significant widening of losses and a substantial decline in total revenue by 55.4% year-over-year to $2.05 million.
2. Recognition of Significant Impairment Charges.
The company recognized approximately $20.4 million in impairment charges during fiscal Q1 2026, comprising $15.2 million on a consolidated property and $5.2 million related to an unconsolidated entity. These charges reduced the book value of assets and underscored ongoing challenges in the valuation and performance of its property portfolio, contributing to negative investor sentiment.
3. Explicit Statement of "Going Concern" Doubt Amidst Debt Maturity.
In its fiscal Q1 2026 report, Seritage disclosed "substantial doubt about going concern" due to $50 million of corporate debt maturing at the end of July 2026. While the company held $63.2 million in cash on hand as of May 14, 2026, the uncertainty surrounding the refinancing or repayment of this significant debt obligation, alongside a quarterly cash burn of $9-10 million (before asset sales), heightened investor concerns regarding the company's financial stability and future viability.
4. Slow Progress in Asset Dispositions Exacerbated by Challenging Real Estate Market Conditions.
Seritage is actively pursuing a "Plan of Sale" to monetize its remaining assets; however, as of mid-May 2026, it reported no additional assets under contract with probable closings beyond an $11 million sale completed after fiscal Q1 2026. This slow pace of dispositions is further complicated by broader real estate market headwinds, where median list prices for homes dropped 2.4% year over year in May 2026, and prices for attached units were down 0.7% year over year, due to factors such as higher mortgage rates and increasing ownership costs. These market conditions create a less favorable environment for Seritage to execute its asset monetization strategy efficiently.
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Stock Movement Drivers
Fundamental Drivers
The -6.2% change in SRG stock from 4/30/2026 to 8/7/2026 was primarily driven by a -6.2% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.58 | 2.42 | -6.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 18 | 0.0% |
| P/S Multiple | 8.0 | 7.5 | -6.2% |
| Shares Outstanding (Mil) | 56 | 56 | 0.0% |
| Cumulative Contribution | -6.2% |
Market Drivers
4/30/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SRG | -6.2% | |
| Market (SPY) | 7.6% | 15.5% |
| Sector (XLRE) | 1.3% | 27.0% |
Fundamental Drivers
The -26.7% change in SRG stock from 1/31/2026 to 8/7/2026 was primarily driven by a -25.8% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.30 | 2.42 | -26.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 18 | -1.2% |
| P/S Multiple | 10.1 | 7.5 | -25.8% |
| Shares Outstanding (Mil) | 56 | 56 | 0.0% |
| Cumulative Contribution | -26.7% |
Market Drivers
1/31/2026 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SRG | -26.7% | |
| Market (SPY) | 12.1% | 20.6% |
| Sector (XLRE) | 9.3% | 23.6% |
Fundamental Drivers
The -24.1% change in SRG stock from 7/31/2025 to 8/7/2026 was primarily driven by a -31.4% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.19 | 2.42 | -24.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 16 | 18 | 10.7% |
| P/S Multiple | 10.9 | 7.5 | -31.4% |
| Shares Outstanding (Mil) | 56 | 56 | -0.1% |
| Cumulative Contribution | -24.1% |
Market Drivers
7/31/2025 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SRG | -24.1% | |
| Market (SPY) | 23.4% | 25.1% |
| Sector (XLRE) | 11.4% | 19.7% |
Fundamental Drivers
The -74.2% change in SRG stock from 7/31/2023 to 8/7/2026 was primarily driven by a -76.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312023 | 8072026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.39 | 2.42 | -74.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 77 | 18 | -76.3% |
| P/S Multiple | 6.9 | 7.5 | 9.3% |
| Shares Outstanding (Mil) | 56 | 56 | -0.5% |
| Cumulative Contribution | -74.2% |
Market Drivers
7/31/2023 to 8/7/2026| Return | Correlation | |
|---|---|---|
| SRG | -74.2% | |
| Market (SPY) | 74.9% | 29.4% |
| Sector (XLRE) | 29.3% | 27.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SRG Return | -10% | -11% | -21% | -56% | -21% | -26% | -84% |
| Peers Return | 73% | -15% | 12% | 19% | -1% | 20% | 131% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| SRG Win Rate | 42% | 42% | 50% | 33% | 33% | 25% | |
| Peers Win Rate | 83% | 35% | 57% | 62% | 47% | 72% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SRG Max Drawdown | -46% | -64% | -44% | -62% | -41% | -40% | |
| Peers Max Drawdown | -11% | -34% | -21% | -12% | -20% | -8% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: SPG, KIM, REG, FRT, BRX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | SRG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.2% | -18.8% |
| % Gain to Breakeven | 59.1% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -22.8% | -9.5% |
| % Gain to Breakeven | 29.5% | 10.5% |
| Time to Breakeven | 38 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -60.9% | -24.5% |
| % Gain to Breakeven | 155.9% | 32.4% |
| Time to Breakeven | 42 days | 427 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -23.6% | -3.7% |
| % Gain to Breakeven | 30.8% | 3.9% |
| Time to Breakeven | 455 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.5% | -12.2% |
| % Gain to Breakeven | 25.9% | 13.9% |
| Time to Breakeven | 96 days | 62 days |
In The Past
Seritage Growth Properties's stock fell -37.2% during the 2025 US Tariff Shock. Such a loss loss requires a 59.1% gain to breakeven.
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| Event | SRG | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.2% | -18.8% |
| % Gain to Breakeven | 59.1% | 23.1% |
| Time to Breakeven | 154 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -22.8% | -9.5% |
| % Gain to Breakeven | 29.5% | 10.5% |
| Time to Breakeven | 38 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -60.9% | -24.5% |
| % Gain to Breakeven | 155.9% | 32.4% |
| Time to Breakeven | 42 days | 427 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -23.6% | -3.7% |
| % Gain to Breakeven | 30.8% | 3.9% |
| Time to Breakeven | 455 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.5% | -12.2% |
| % Gain to Breakeven | 25.9% | 13.9% |
| Time to Breakeven | 96 days | 62 days |
In The Past
Seritage Growth Properties's stock fell -37.2% during the 2025 US Tariff Shock. Such a loss loss requires a 59.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Seritage Growth Properties (SRG)
Seritage Growth Properties (SRG) is a publicly-traded Real Estate Investment Trust (REIT) primarily focused on the redevelopment and management of a vast commercial real estate portfolio. The company originated from acquiring properties from Sears Holdings in July 2015, with its core mission being to unlock and enhance the inherent value of these assets. SRG transforms these properties into vibrant, modern, and experience-rich destinations.
The company's main offerings are revitalized real estate spaces, including shopping centers, dining establishments, entertainment venues, and mixed-use developments. SRG owns and manages 166 wholly-owned properties and 29 unconsolidated properties, encompassing approximately 30.4 million square feet across 44 states and Puerto Rico. Its primary customers are the businesses, retailers, and other tenants that lease space within these revitalized destinations, while the broader market served includes consumers and local communities seeking enriched experiences. Seritage Growth Properties aims to generate long-term value for its shareholders through this strategic redevelopment and property management.
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Here are 1-2 brief analogies for Seritage Growth Properties (SRG):
- Like **The Howard Hughes Corporation (HHC)**, but exclusively focused on redeveloping former Sears properties into new mixed-use destinations.
- A specialist real estate developer, similar to **Simon Property Group (SPG)**, but focused solely on revitalizing old Sears department store sites.
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- Property Leasing: Providing retail, dining, entertainment, and mixed-use spaces for rent to various tenants.
- Real Estate Development and Repositioning: Transforming and revitalizing properties to create modern, value-added destinations.
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Seritage Growth Properties (SRG) primarily sells to other companies by leasing space in its properties to tenants.
Based on Seritage Growth Properties' latest public filings (Form 10-K), Sears, Roebuck and Co. is a major customer. As of December 31, 2023, Sears, Roebuck and Co. accounted for more than 1.6% of SRG's annualized base rent. Sears Holdings, the former parent company, is not a publicly traded entity (symbol: N/A).
Beyond Sears, Roebuck and Co., Seritage Growth Properties maintains a highly diversified tenant base across its portfolio of shopping, dining, entertainment, and mixed-use destinations. Their filings indicate that no other single tenant accounts for more than 1.6% of their annualized base rent. Therefore, there are no other individual companies that constitute major customers by name for Seritage Growth Properties.
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Adam Metz, Interim Chief Executive Officer and President
Mr. Metz serves as Chairman of the Board of Trustees and Interim Chief Executive Officer and President of Seritage Growth Properties. Since 2019, he has been a non-executive director of Hammerson plc, a United Kingdom-based real estate investment trust. From September 2013 to April 2018, Mr. Metz was a Managing Director and head of International Real Estate at Carlyle Group. Prior to Carlyle Group, he was a Senior Advisor to TPG Capital's Real Estate Group. Mr. Metz previously served as Chief Executive Officer of General Growth Properties (GGP), where he guided the company through its restructuring and emergence from bankruptcy. He was also a co-founding partner of Polaris Capital LLC, which collaborated with The Blackstone Group on a portfolio of retail real estate assets.
John Garilli, Interim Chief Financial Officer
Mr. Garilli has served as Interim Chief Financial Officer of Seritage Growth Properties since January 2022. He has been CEO, President, CFO, Treasurer, and Secretary of New York REIT Liquidating LLC since 2018, and previously served as CEO of its predecessor, New York REIT, Inc. (NYRT), a NYSE-listed real estate investment trust, from July to November 2018. He was also CFO, Secretary, and Treasurer of NYRT starting in 2017. From 2006 to 2012, Mr. Garilli served as Chief Accounting Officer of Winthrop Realty Trust, a NYSE-listed real estate investment trust, and subsequently as its CFO from 2012 until 2016. He has been a member of Winthrop Capital Advisors LLC and its affiliates since 1995, currently holding the position of President and COO. Additionally, Mr. Garilli has served as Interim President and CEO of Luby's, Inc. since February 2021.
Matthew E. Fernand, Chief Legal Officer
Mr. Fernand serves as Chief Legal Officer of Seritage Growth Properties. He previously held the role of Executive Vice President and General Counsel for the Company. Before joining Seritage, Mr. Fernand was a partner in Sidley Austin LLP's Real Estate Group from 2005 to 2015, where his practice focused on the financing, development, acquisition, disposition, and leasing of commercial properties, as well as the formation of real estate joint ventures and partnerships.
Eric Dinenberg, Chief Operating Officer
Eric Dinenberg is the Chief Operating Officer at Seritage Growth Properties. He joined the Company in 2019 as Senior Vice President of Mixed Use and Premier Properties. Prior to Seritage, he served as Executive Vice President of Development and Operations at Brookfield Properties. Before his tenure at Brookfield, Mr. Dinenberg led Development and Operations efforts at Vornado Realty Trust.
Nino Cammalleri, Senior Vice President and Real Estate Counsel
Nino Cammalleri is Senior Vice President and Real Estate Counsel at Seritage Growth Properties.
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The key risks for Seritage Growth Properties (SRG) primarily stem from its ongoing transformation and the broader real estate market dynamics. These risks include:
- Persistent Losses and Liquidity Challenges: Seritage Growth Properties has consistently reported material losses over the past decade and faces ongoing cash burn, which necessitates continuous asset sales to fund operations, redevelopments, and debt obligations. This reliance on asset sales can reduce the company's portfolio and potential future income.
- Substantial Debt and Repayment Obligations: The company carries significant debt, notably a large loan from Berkshire Hathaway, which requires substantial payments. There have been concerns about Seritage's ability to meet these repayment deadlines, and failure to do so could have severe financial consequences. The company's debt load is substantial compared to its market capitalization.
- Challenges in Redevelopment Execution and Asset Valuation: Seritage's core strategy involves redeveloping former Sears properties into various types of destinations, including mixed-use and residential. However, this strategy faces numerous obstacles, such as unfavorable market conditions (e.g., high inflation, rising interest rates, and recession concerns impacting commercial real estate), difficulties in securing necessary entitlements for new developments, and the rapid pace of former Sears store closures. Furthermore, the company has faced scrutiny and a lawsuit regarding its internal controls over financial reporting and the valuation of its real estate investments, signaling potential risks to asset values.
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The addressable market for Seritage Growth Properties (SRG), a real estate investment trust (REIT) focused on owning, developing, redeveloping, managing, and leasing retail and mixed-use properties, is primarily the U.S. commercial real estate market.
The U.S. commercial real estate market is a substantial and diverse sector. As of the fourth quarter of 2023, the U.S. commercial real estate market was valued at an estimated $22.5 trillion. Another estimate places the investable commercial real estate universe in the U.S. at approximately $19 trillion.
In terms of annual activity, the United States commercial real estate market size in transaction value is expected to grow from USD 1.66 trillion in 2024 to USD 1.89 trillion by 2029. Other projections estimate the U.S. commercial real estate market size at USD 742.3 billion in 2025, with a projection to reach USD 995.6 billion by 2034. Another report estimates the market size at USD 1.74 trillion in 2026, growing to USD 1.97 trillion by 2031.
Within this broader market, Seritage Growth Properties specifically targets retail and mixed-use properties across the United States. The retail real estate market, a component of commercial real estate, has shown resilience and adaptation. For instance, the U.S. retail market recorded positive net absorption in the third quarter of 2025. Additionally, mixed-use developments are a growing trend, reflecting evolving urban planning and strong demand in various regions across the U.S.
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Expected Drivers of Future Revenue Growth for Seritage Growth Properties (SRG)
Seritage Growth Properties (SRG) is expected to drive future revenue growth over the next 2-3 years primarily through the successful redevelopment, re-leasing, and strategic management of its real estate portfolio. While the company is actively engaged in a "Plan of Sale" to monetize assets and optimize its portfolio, the remaining or newly redeveloped properties are anticipated to generate revenue through the following drivers:
- Leasing of Redeveloped Properties: A core driver of future revenue growth is the successful transformation of former Sears and Kmart properties into modern, revitalized retail, dining, and entertainment spaces, followed by the securing of new lease agreements with a diverse range of tenants. The company's mission focuses on creating these updated destinations, which, once completed and leased, will contribute directly to rental income.
- Increased Occupancy and Higher Rental Rates: For both its existing income-producing properties and newly redeveloped assets, revenue growth will be fueled by improving the overall occupancy rate (percentage of leased space) and achieving higher average base rents per square foot (ABR PSF). Recent reports indicate an increase in ABR PSF, suggesting an ability to command better pricing for its spaces.
- Diversification into Mixed-Use Destinations: Seritage Growth Properties aims to create mixed-use destinations that include residential, entertainment, and other complementary uses beyond traditional retail. The successful development and leasing of these diversified components will broaden the company's revenue base and introduce new streams of rental income.
- Strategic Redevelopment Initiatives: Continued investment in, and execution of, its redevelopment pipeline is critical. These initiatives enhance the value and attractiveness of properties, drawing a wider array of tenants and subsequently driving future leasing activity and associated rental income for the consolidated and retained portfolio.
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Share Issuance
- As of June 30, 2025, Seritage Growth Properties had 2,800,000 Series A Preferred Shares issued and outstanding.
Inbound Investments
- Seritage Growth Properties has been focused on repaying its $1.6 billion term loan facility from Berkshire Hathaway Life Insurance Company of Nebraska.
- Total repayments on this term loan facility amounted to $1.55 billion since December 2021, leaving $50 million outstanding as of December 4, 2025.
Capital Expenditures
- During the six months ended June 30, 2025, the company invested $18.0 million in its consolidated properties, primarily for tenant leasing costs, and an additional $0.4 million in its unconsolidated properties.
- In the third quarter of 2025, $3.7 million in cash was utilized for the development of real estate.
- The primary focus of these capital expenditures is on tenant leasing costs and development of its properties, with an expectation for these costs to decrease as the company continues to sell its assets.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Seritage Growth Properties Earnings Notes | 12/16/2025 | |
| Is Seritage Growth Properties Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 53.75 |
| Mkt Cap | 12.2 |
| Rev LTM | 1,494 |
| Op Inc LTM | 557 |
| FCF LTM | 752 |
| FCF 3Y Avg | 707 |
| CFO LTM | 752 |
| CFO 3Y Avg | 707 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.8% |
| Rev Chg 3Y Avg | 7.0% |
| Rev Chg Q | 6.3% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | 10.1% |
| Op Inc Chg 3Y Avg | 6.9% |
| Op Mgn LTM | 35.9% |
| Op Mgn 3Y Avg | 35.6% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 50.3% |
| CFO/Rev 3Y Avg | 49.8% |
| FCF/Rev LTM | 48.7% |
| FCF/Rev 3Y Avg | 49.5% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Ownership, development, redevelopment, management, sale and leasing of real estate properties | 18 | 18 | 21 | ||
| Management and other fee income | 2 | 1 | |||
| Rental income | 105 | 116 | |||
| Total | 18 | 18 | 21 | 107 | 117 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Ownership, development, redevelopment, management, sale and leasing of real estate properties | -68 | -152 | -155 |
| Total | -68 | -152 | -155 |
Price Behavior
| Market Price | $2.42 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 07/06/2015 | |
| Distance from 52W High | -46.0% | |
| 50 Days | 200 Days | |
| DMA Price | $2.59 | $3.04 |
| DMA Trend | down | down |
| Distance from DMA | -6.7% | -20.3% |
| 3M | 1YR | |
| Volatility | 47.9% | 46.8% |
| Downside Capture | 124.29 | 118.34 |
| Upside Capture | 51.92 | 69.56 |
| Correlation (SPY) | 14.5% | 24.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.15 | -0.08 | 0.53 | 0.59 | 0.92 | 0.88 |
| Up Beta | -1.01 | -1.35 | -0.80 | -0.12 | 0.36 | 0.99 |
| Down Beta | -3.62 | -0.20 | 0.46 | 0.39 | 1.29 | 0.93 |
| Up Capture | -97% | 14% | 69% | 43% | 58% | 13% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 8 | 19 | 29 | 50 | 104 | 317 |
| Down Capture | 32% | 56% | 119% | 127% | 117% | 102% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 23 | 31 | 70 | 137 | 400 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SRG | |
|---|---|---|---|---|
| SRG | -18.0% | 46.7% | -0.29 | - |
| Sector ETF (XLRE) | 11.4% | 14.0% | 0.53 | 19.9% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 24.5% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 11.7% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -0.2% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 20.9% |
| Bitcoin (BTCUSD) | -44.2% | 42.9% | -1.23 | 18.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SRG | |
|---|---|---|---|---|
| SRG | -30.7% | 59.9% | -0.41 | - |
| Sector ETF (XLRE) | 2.6% | 19.1% | 0.04 | 28.3% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 32.9% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 7.5% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 13.2% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 30.5% |
| Bitcoin (BTCUSD) | 8.8% | 53.0% | 0.35 | 15.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SRG | |
|---|---|---|---|---|
| SRG | -25.2% | 64.9% | -0.18 | - |
| Sector ETF (XLRE) | 6.2% | 20.4% | 0.26 | 37.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 36.8% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 2.4% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 18.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 42.5% |
| Bitcoin (BTCUSD) | 58.2% | 66.2% | 0.98 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 7/28/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/15/2026 | -8.0% | -8.0% | 1.1% |
| 11/14/2025 | -10.6% | -18.0% | -21.2% |
| 8/14/2025 | 12.2% | 20.2% | 46.0% |
| 5/15/2025 | -0.7% | -3.4% | 0.0% |
| 11/12/2024 | -0.7% | -6.7% | 1.9% |
| 5/10/2024 | -27.3% | -34.1% | -47.7% |
| 11/8/2023 | 16.1% | 22.3% | 23.4% |
| 8/14/2023 | -9.7% | -13.8% | -13.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 7 | 11 |
| # Negative | 13 | 13 | 9 |
| Median Positive | 8.8% | 15.7% | 8.3% |
| Median Negative | -8.0% | -8.0% | -17.0% |
| Max Positive | 16.1% | 22.3% | 51.9% |
| Max Negative | -27.3% | -34.1% | -47.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/15/2026 | -8.0% | -8.0% | 1.1% |
| 11/14/2025 | -10.6% | -18.0% | -21.2% |
| 8/14/2025 | 12.2% | 20.2% | 46.0% |
| 5/15/2025 | -0.7% | -3.4% | 0.0% |
| 11/12/2024 | -0.7% | -6.7% | 1.9% |
| 5/10/2024 | -27.3% | -34.1% | -47.7% |
| 11/8/2023 | 16.1% | 22.3% | 23.4% |
| 8/14/2023 | -9.7% | -13.8% | -13.8% |
| 5/10/2023 | 3.6% | -0.7% | 14.1% |
| 3/14/2023 | -8.6% | -21.2% | -17.0% |
| 11/9/2022 | -3.8% | 4.8% | 3.9% |
| 8/9/2022 | 9.6% | 15.7% | 8.3% |
| 5/10/2022 | -8.4% | -11.8% | -19.3% |
| 3/16/2022 | 7.3% | 9.1% | 7.7% |
| 11/3/2021 | -0.3% | -4.7% | -16.9% |
| 8/9/2021 | -0.3% | -6.4% | -5.2% |
| 4/30/2021 | -6.0% | -11.9% | -7.8% |
| 3/11/2021 | 1.1% | -6.9% | -22.2% |
| 11/5/2020 | -13.1% | 2.3% | 41.3% |
| 8/6/2020 | 8.8% | 19.0% | 51.9% |
| SUMMARY STATS | |||
| # Positive | 7 | 7 | 11 |
| # Negative | 13 | 13 | 9 |
| Median Positive | 8.8% | 15.7% | 8.3% |
| Median Negative | -8.0% | -8.0% | -17.0% |
| Max Positive | 16.1% | 22.3% | 51.9% |
| Max Negative | -27.3% | -34.1% | -47.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/14/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 03/15/2021 | 10-K |
| 09/30/2020 | 11/09/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/02/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
| 06/30/2019 | 08/02/2019 | 10-Q |
| 03/31/2019 | 05/03/2019 | 10-Q |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yakira, Capital Management, Inc | See Footnote | Sell | 2242026 | 24.10 | 2,225 | 53,614 | 6,861,855 | Form | |
| 2 | Yakira, Capital Management, Inc | See Footnote | Sell | 2242026 | 23.95 | 7,375 | 176,631 | 6,873,482 | Form | |
| 3 | Yakira, Capital Management, Inc | See Footnote | Sell | 2092026 | 24.10 | 5,570 | 134,237 | 7,094,269 | Form | |
| 4 | Yakira, Capital Management, Inc | See Footnote | Sell | 2092026 | 24.10 | 810 | 19,524 | 7,229,796 | Form | |
| 5 | Yakira, Capital Management, Inc | See Footnote | Sell | 2052026 | 24.08 | 1,030 | 24,807 | 7,243,245 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Yakira, Capital Management, Inc | See Footnote | Sell | 2242026 | 24.10 | 2,225 | 53,614 | 6,861,855 | Form | |
| 2 | Yakira, Capital Management, Inc | See Footnote | Sell | 2242026 | 23.95 | 7,375 | 176,631 | 6,873,482 | Form | |
| 3 | Yakira, Capital Management, Inc | See Footnote | Sell | 2092026 | 24.10 | 5,570 | 134,237 | 7,094,269 | Form | |
| 4 | Yakira, Capital Management, Inc | See Footnote | Sell | 2092026 | 24.10 | 810 | 19,524 | 7,229,796 | Form | |
| 5 | Yakira, Capital Management, Inc | See Footnote | Sell | 2052026 | 24.08 | 1,030 | 24,807 | 7,243,245 | Form | |
| 6 | Yakira, Capital Management, Inc | See Footnote | Sell | 2052026 | 24.13 | 2,554 | 61,616 | 7,280,424 | Form | |
| 7 | Yakira, Capital Management, Inc | See Footnote | Sell | 1272026 | 24.13 | 5,072 | 122,396 | 7,344,049 | Form | |
| 8 | Lampert, Edward S | Direct | Sell | 9112025 | 4.50 | 23,864 | 107,493 | 60,450,390 | Form | |
| 9 | Lampert, Edward S | Direct | Sell | 9112025 | 4.40 | 40,000 | 176,148 | 59,204,056 | Form |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Real Estate Services Resources |
| CBRE Research |
| JLL Trends & Insights |
| Cushman & Wakefield Insights |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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