Seritage Growth Properties (NYSE:SRG)

CAPS Rating: 2 out of 5

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3 Underperform
 

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TMFDeej (97.66)
Submitted September 09, 2016

This morning I came across an interesting article over on Seeking Alpha by REIT guy Brad Thomas. The article is interesting not only because it pertains to Sears' recent REIT spinoff, Seritage Growth Properties (SRG), a special situation in itself,… More

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Recent Community Commentary

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Recs

0
Member Avatar TMFReubenGBrewer (48.90) Submitted: 7/10/2018 9:54:26 AM : Outperform Start Price: $43.39 SRG Score: -4.34

This is a risky investment based on Seritage's ability to transition Sears and Kmart occupied properties to new uses and lessees. It could take a while and there will likely be bumps in the road along the way, but the rent difference between what Sears is paying and what new customers are paying hints and huge opportunity ahead.

Recs

0
Member Avatar TMFGemHunter (39.89) Submitted: 1/18/2018 9:41:42 AM : Outperform Start Price: $40.22 SRG Score: +3.52

Today, Seritage leases the vast majority of its real estate to Sears Holdings. Investors' worries about a potential Sears bankruptcy have kept a lid on Seritage stock. But in the long run, Seritage is poised to significantly increase its rental income -- and diversify its tenant mix -- by redeveloping the Sears and Kmart stores it owns. Patient investors could capture plenty of upside here.

Recs

0
Member Avatar TMFhurrah (60.06) Submitted: 8/29/2016 10:44:08 AM : Outperform Start Price: $42.97 SRG Score: -30.88

At the moment, the vast majority of their property is leased to Sears at ridiculously low rates (Sears being an anchor tenant, and leases being very old), but they have recapture rights on 50% of the space. On some, they have rights to 100%. The recapture is happening at rates much higher than what Sears is paying - which is a ridiculous $4.60/sq ft. The newer rents are going for much higher, on the order of $20. Once this happens, rental revenue can go up by 50, even a 100%.

Leaderboard

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Score Leader

constructive

constructive (99.96) Score: +34.46

The Score Leader is the player with the highest score across all their picks in SRG.

Top
Pick
Member Name Member
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
Index
Gain
Score Commentary
spader1970 < 20 4/10/2018 Outperform 5Y $34.49 +19.73% +4.82% +14.90 0 Comment
TMFFishBiz 69.83 4/2/2018 Outperform 5Y $35.16 +17.44% +5.51% +11.93 0 Comment
constructive 99.96 10/11/2018 Underperform 5Y $44.70 -7.62% -0.03% +7.59 0 Comment
TheSlightEdge 99.11 10/11/2018 Underperform 3W $43.76 -5.63% -0.31% +5.32 0 Comment
TMFGemHunter 39.89 1/18/2018 Outperform 5Y $40.22 +2.68% -0.85% +3.52 2 Comments
OttoBismarck 99.94 10/18/2018 Underperform 5Y $42.39 -2.58% -0.86% +1.73 0 Comment
TMFReubenGBrewer 48.90 7/10/2018 Outperform 5Y $43.39 -4.83% -0.49% -4.34 1 Comment
stereotyp72 71.14 7/9/2018 Outperform 5Y $43.64 -5.38% +0.17% -5.54 0 Comment
derbydog85 < 20 6/28/2017 Outperform 5Y $40.76 +1.30% +14.23% -12.93 0 Comment
TotalReturnInv 97.76 7/3/2017 Outperform 5Y $41.00 +0.72% +14.05% -13.33 0 Comment

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