Seritage Growth Properties (SRG-PA)
Seritage Growth Properties (SRG-PA) operates as an independent, publicly traded real estate investment trust (REIT) that both manages and controls its substantial portfolio. This extensive collection comprises 166 properties under full ownership and an additional 29 unconsolidated properties, collectively spanning an estimated 30.4 million square feet across 44 U.S. states and Puerto Rico. The company was established in July 2015, following the acquisition of a valuable retail property collection from Sears Holdings, with the core purpose of realizing the inherent real estate worth of these assets. Seritage's central mission is to develop and maintain dynamic shopping, dining, entertainment, and mixed-use centers. These endeavors are designed to offer enhanced experiences for both customers and local populations, while simultaneously fostering sustainable, long-term value for its investors.
Sector: Real Estate
Industry: REIT - Retail
Seritage Growth Properties
Mkt Cap$91.25M
Float2.8M
O/S56.32M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$18.2M
Net Income-$68.22M
Total Assets$393.78M
Free Cash Flow-$34.9M
Debt & Equity
Debt 13%
Equity 87%
Preferred 0%
Total Debt$47.68M
Total Equity$331.42M
Preferred Stock$28K
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in SRG-PA's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$393.78M
Liabilities$60.98M
Accounts Receivable$3.67M
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$171K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Revenue | $18.2M | $17.62M | $20.78M | $107.06M | $116.68M | $116.5M | $168.63M | $214.75M | $241.02M | $248.67M | $113.18M | $273.1M |
| YoY Growth | 3.3% | -15.2% | -80.6% | -8.3% | 0.2% | -30.9% | -21.5% | -10.9% | -3.1% | 119.7% | -58.6% | - |
| Cost of Revenue | $16.44M | $20.27M | $27.41M | $65.72M | $80.26M | $77.93M | $80.72M | $71.15M | $65.35M | $65.19M | $94.2M | $96.05M |
| Gross Profit | $1.76M | -$2.65M | -$6.63M | $41.34M | $36.42M | $38.56M | $87.92M | $143.6M | $175.66M | $183.48M | $18.98M | $177.04M |
| Gross Margin | 9.7% | -15.0% | -31.9% | 38.6% | 31.2% | 33.1% | 52.1% | 66.9% | 72.9% | 73.8% | 16.8% | 64.8% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1 | -$1 | -$0 | $0 | $0 |
| Selling, General, and Administrative | $31.95M | $30.02M | $45.99M | $47.63M | $41.95M | $28.85M | $39.16M | $34.79M | $27.9M | $17.47M | $19.91M | $3.85M |
| Other | $6.28M | $13.12M | $14.47M | $41.11M | $51.2M | $96M | $104.58M | $226.93M | $262.33M | $177.39M | -$9.96M | $0 |
| Total Operating Expenses | $38.23M | $43.14M | $60.46M | $88.75M | $93.15M | $124.85M | $143.74M | $261.72M | $290.23M | $194.86M | $9.96M | $118.14M |
| Operating Income (EBIT) | -$36.47M | -$45.79M | -$67.09M | -$47.41M | -$56.73M | -$86.28M | -$55.82M | -$118.12M | -$114.57M | -$30.45M | $9.02M | $58.9M |
| Operating Margin | -200.3% | -259.9% | -322.9% | -44.3% | -48.6% | -74.1% | -33.1% | -55.0% | -47.5% | -12.2% | 8.0% | 21.6% |
| Interest Expense | $20.27M | $24.97M | $44.57M | $86.73M | $107.97M | $91.32M | $94.52M | $90.02M | $70.11M | $63.59M | $60.65M | $0 |
| Interest Income | $1.57M | $2.51M | $17.07M | $37.75M | $9.29M | $3.39M | $6.82M | $7.89M | $877K | $266K | $0 | $66.85M |
| Other Income (Expense) | -$31.75M | -$106.16M | -$87.78M | -$72.22M | $17.94M | -$66.43M | -$34.59M | $3.56M | -$5.97M | -$60.06M | -$46.88M | -$66.85M |
| Income Before Tax (EBT) | -$68.22M | -$151.95M | -$154.87M | -$119.63M | -$38.79M | -$152.71M | -$90.41M | -$114.56M | -$120.54M | -$90.5M | -$37.86M | -$7.95M |
| Income Tax Expense | $0 | $1.58M | $38K | $466K | $196K | $252K | $196K | $321K | $271K | $505K | $944K | $0 |
| Net Income | -$68.22M | -$153.54M | -$154.91M | -$73.94M | -$28.15M | -$105.03M | -$59.4M | -$73.47M | -$73.75M | -$51.56M | -$22.34M | -$4.37M |
| Net Income Margin | -374.7% | -871.3% | -745.5% | -69.1% | -24.1% | -90.2% | -35.2% | -34.2% | -30.6% | -20.7% | -19.7% | -1.6% |
| Supplementary Data | ||||||||||||
| EPS | -1.30 | -2.82 | -2.85 | -2.42 | -0.92 | -3.99 | -2.49 | -2.07 | -2.18 | -1.64 | -0.71 | -0.14 |
| Diluted EPS | -1.30 | -2.82 | -2.85 | -2.42 | -0.92 | -3.99 | -2.49 | -2.07 | -2.18 | -1.64 | -0.71 | -0.14 |
| Weighted Average OS | 56.31M | 56.26M | 56.15M | 49.73M | 42.39M | 38.30M | 36.41M | 35.56M | 33.79M | 31.42M | 31.39M | 30.62M |
| EBITDA | -$41.66M | -$113.67M | -$95.66M | $8.44M | $120.56M | $32.81M | $108.2M | $201.37M | $211.74M | $149.53M | $44.08M | $173.19M |
| EBITDA Margin | -228.9% | -645.1% | -460.3% | 7.9% | 103.3% | 28.2% | 64.2% | 93.8% | 87.9% | 60.1% | 38.9% | 63.4% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $48.09M | $85.21M | $134M | $133.48M | $106.6M | $143.73M | $139.26M | $532.86M | $241.57M | $52.03M | $62.87M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $48.09M | $85.21M | $134M | $133.48M | $106.6M | $143.73M | $139.26M | $532.86M | $241.57M | $52.03M | $62.87M |
| Accounts Receivable | $3.67M | $7.89M | $12.25M | $41.49M | $28.91M | $41.57M | $54.47M | $36.93M | $30.79M | $23.17M | $9.77M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1.95M | -$13.62M | -$9.92M | -$19.33M |
| Other Current Assets | $0 | $12.5M | $69.55M | $501.74M | $51.93M | $53.34M | $5.28M | $3.09M | $195.81M | $102.67M | $115.6M |
| Total Current Assets | $51.75M | $105.6M | $215.8M | $676.71M | $187.45M | $238.64M | $210.03M | $582.45M | $454.55M | $167.95M | $168.91M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $0 | $370.13M | $560.74M | $780.62M | $1.71B | $1.93B | $22.84M | $5.3M | $6.29M | $5.45M | $2.57M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $171K | $1.05M | $886K | $1.79M | $14.82M | $18.59M | $68.15M | $123.66M | $310.1M | $464.4M | $578.79M |
| Long-Term Investments | $156.24M | $189.7M | $196.44M | $382.6M | $498.56M | $457.03M | $445.08M | $398.58M | $282.99M | $425.02M | $427.05M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $2B | $1.76B | $1.72B | $2.71B | $19.33M |
| Other Long-Term Assets | -$156.24M | $11.29M | $0 | $0 | $200K | $5M | $9.28M | $5.41M | $2.49M | -$1.06B | $1.64B |
| Total Long-Term Assets | $171K | $572.17M | $758.07M | $1.17B | $2.23B | $2.41B | $2.54B | $2.29B | $2.32B | $2.54B | $2.66B |
| Other Assets | $341.86M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $393.78M | $677.77M | $973.86M | $1.84B | $2.41B | $2.65B | $2.75B | $2.88B | $2.78B | $2.71B | $2.83B |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $0 | $31.97M | $42.25M | $86.36M | $96.22M | $133.2M | $34.38M | $28.07M | $9.59M | $16.05M | $13.79M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $12.98M | $14.11M | $17.09M | $23.94M | $25.33M |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $8.32M | $20.52M | $14.68M | $1.98M | $0 |
| Other Current Liabilities | $13.3M | $0 | $0 | $0 | $0 | $0 | -$29.52M | -$23.48M | $0 | $0 | -$25.33M |
| Total Current Liabilities | $13.3M | $31.97M | $43.4M | $88.39M | $105.72M | $142.7M | $79.24M | $104.08M | $81.05M | $88.52M | $79.77M |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $47.68M | $240M | $360M | $1.03B | $1.44B | $1.6B | $1.6B | $1.6B | $1.35B | $1.17B | $1.14B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $8.32M | $20.52M | $14.68M | $1.98M | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $848K | $0 | $0 | $0 | $2.87M | -$9.33M | -$775K | $13.73M | $0 |
| Other Long-Term Liabilities | $0 | $0 | $848K | $978K | $3.66M | $4.19M | $0 | $23.48M | $13.7M | $26.52M | $30.6M |
| Total Long-Term Liabilities | $47.68M | $240M | $367.3M | $1.03B | $1.46B | $1.62B | $1.63B | $1.62B | $1.37B | $1.2B | $1.18B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $60.98M | $271.97M | $410.7M | $1.12B | $1.57B | $1.77B | $1.71B | $1.73B | $1.45B | $1.29B | $1.26B |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $28K | $28K | $28K | $28K | $28K | $28K | $28K | $28K | $28K | $0 | $0 |
| Common Stock | $562K | $562K | $562K | $561K | $436K | $389K | $381K | $370K | $368K | $332K | $332K |
| Retained Earnings | -$1.03B | -$958.78M | -$800.34M | -$640.53M | -$553.77M | -$528.64M | -$418.71M | -$344.13M | -$229.76M | -$121.34M | -$38.15M |
| Comprehensive Income & Other | $0 | $0 | $0 | -$0 | -$0 | -$0 | $1.04B | $1.15B | -$139.48M | -$89.94M | -$29.08M |
| Other Stockholders' Equity | $1.36B | $1.36B | $1.36B | $1.36B | $1.24B | $1.18B | $1.15B | $1.12B | $1.12B | $925.56M | $924.51M |
| Total Equity | $331.42M | $404.46M | $561.99M | $720.47M | $687.74M | $649.04M | $731.42M | $780.77M | $886.7M | $804.56M | $886.7M |
| Minority Interest | $1.38M | $1.35M | $1.17M | $2.13M | $157.06M | $233.69M | $311.95M | $369.69M | $434.16M | $619.75M | $683.38M |
| Total Liabilities and Equity | $392.39M | $676.43M | $972.69M | $1.84B | $2.26B | $2.42B | $2.44B | $2.51B | $2.34B | $2.09B | $2.15B |
| Supplementary Data | |||||||||||
| Total Debt | $47.68M | $240M | $367.6M | $1.03B | $1.46B | $1.62B | $1.61B | $1.6B | $1.35B | $1.17B | $1.14B |
| Net Debt | -$411K | $154.79M | $233.6M | $898.3M | $1.35B | $1.48B | $1.47B | $1.07B | $1.1B | $1.11B | $1.08B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 |
| Operating Activities | ||||||||||||
| Net Income | -$68.22M | -$153.54M | -$154.91M | -$120.1M | -$38.98M | -$152.96M | -$90.6M | -$114.88M | -$120.81M | -$91.01M | -$22.34M | -$4.37M |
| Depreciation & Amortization | $6.28M | $13.31M | $14.65M | $41.34M | $51.38M | $94.2M | $104.09M | $225.91M | $262.17M | $176.44M | $65.52M | $114.29M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$115.01M | -$21.28M | -$52.23M | -$81.74M | -$48.92M | $12.41M | $0 | $0 |
| Stock-Based Compensation | $201K | $1.49M | $2.73M | $2.77M | $1.86M | -$3.04M | $6.84M | $7.47M | $7.02M | $1.07M | $1.89M | $200K |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $1.63M | $5.11M | $12.54M | -$10.82M | $5.77M | $9.72M | $2.56M | -$256K | -$4.75M | $350K | -$1.47M | $0 |
| Inventory | $0 | $0 | $0 | $10.82M | -$5.77M | -$9.72M | -$2.56M | $0 | $0 | $0 | -$137.82M | $0 |
| Accounts Payable | $6.14M | -$13.07M | -$11.42M | -$21.25M | -$35.77M | $20.81M | -$8.01M | $15.06M | -$21.46M | $12.14M | $21.59M | $0 |
| Other Working Capital | -$715K | $911K | $5.95M | -$7.98M | $2.18M | $9.55M | -$2.59M | -$10.07M | -$12.63M | -$11.12M | -$4.01M | $0 |
| Total Working Capital Change | $7.05M | -$7.04M | $7.07M | -$29.24M | -$33.59M | $30.36M | -$10.6M | $4.99M | -$34.09M | $1.02M | -$5.48M | $0 |
| Other Non-Cash Items | $19.78M | $92.24M | $77.4M | -$12.69M | -$1.65M | $5.4M | -$15.16M | $13.15M | $4.28M | -$7.5M | $116.24M | -$110.12M |
| Net Cash from Operating | -$34.9M | -$53.55M | -$53.06M | -$117.92M | -$136M | -$47.31M | -$57.66M | $54.9M | $69.65M | $92.42M | $21.43M | $0 |
| Investing Activities | ||||||||||||
| Capital Expenditures | $0 | $0 | $0 | -$574.15M | -$248.12M | -$41.72M | $301.37M | $0 | -$243.1M | -$66.19M | -$11M | $0 |
| Acquisitions | $37K | $173K | $126K | $30.15M | -$38.64M | -$43.34M | -$54.19M | -$27M | $219.38M | -$9M | -$2.63B | $0 |
| Purchases of Investments | -$26.81M | $0 | -$93.11M | -$124.81M | -$144.3M | -$309.71M | -$441.88M | -$340.56M | -$281.1M | -$75.19M | -$2.66B | $0 |
| Sales of Investments | $218.16M | $0 | $673.47M | $698.96M | $392.42M | $351.43M | $140.5M | $210.1M | $308.25M | $22.41M | $0 | $0 |
| Other Investing Activities | $7.08M | $126.7M | $732.91M | $555.93M | $299.35M | $86.21M | -$245.3M | -$92.47M | $50.88M | $22.41M | -$5.28B | $0 |
| Net Cash from Investing | $198.47M | $126.87M | $732.91M | $586.08M | $260.71M | $42.87M | -$299.49M | -$119.47M | $27.15M | -$52.78M | -$2.66B | $0 |
| Financing Activities | ||||||||||||
| Debt Repaid | $190M | $120M | $670M | $432.07M | $160M | -$20.43M | - | -$244.44M | -$174.36M | -$20M | -$1.14B | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $70M | $0 | -$8.21M | $0 |
| Common Stock Repurchases | -$126K | -$586K | -$315K | $0 | -$269K | -$85K | -$3.52M | -$1.84M | $310M | $0 | $1.64B | $0 |
| Dividends Paid | $0 | -$4.9M | -$4.9M | $0 | $0 | $0 | -$17.96M | -$35.68M | -$34.25M | -$39.35M | $0 | $0 |
| Other Financing Activities | -$3.96M | $173K | $126K | $0 | $3.96M | $0 | -$10.06M | -$22.7M | -$29.32M | -$31.13M | $1.64B | $0 |
| Net Cash from Financing | -$198.99M | -$125.31M | -$675.09M | -$436.97M | -$161.21M | $15.44M | -$36.45M | $180.2M | $180.79M | -$50.49M | $2.78B | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$35.42M | -$51.99M | $4.76M | $31.19M | -$36.5M | $10.99M | -$393.6M | $115.62M | $277.59M | -$10.84M | $132.74M | $0 |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | -$34.9M | -$53.55M | -$53.06M | -$117.92M | -$136M | -$47.31M | -$57.66M | $54.9M | $69.65M | $92.42M | $21.43M | $0 |
| Capital Expenditure | $0 | $0 | $0 | -$574.15M | -$248.12M | -$41.72M | $301.37M | $0 | -$243.1M | -$66.19M | -$11M | $0 |
| Free Cash Flow | -$34.9M | -$53.55M | -$785.97M | -$692.07M | -$384.12M | -$89.03M | $243.71M | $54.9M | -$173.46M | $26.23M | $10.43M | $0 |
| Cash at Beginning | $97.71M | $149.7M | $144.94M | $113.75M | $150.25M | $139.26M | $532.86M | $417.23M | $139.64M | $62.87M | $22.61M | $0 |
| Cash at End | $62.28M | $97.71M | $149.7M | $144.94M | $113.75M | $150.25M | $139.26M | $532.86M | $417.23M | $52.03M | $155.34M | $0 |