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Holly LaFon
Holly LaFon
Articles (8293) 

Keeley Funds Comments on Seritage Growth Properties

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February 07, 2018 | About:

Seritage Growth Properties (NYSE:SRG) is a real estate investment trust (REIT) that owns 258 properties totaling 40 million square feet on 3,000 acres across 49 states. While the company continues to redevelop former Sears Holdings (SHLD) properties and lease them to specialty retailers at substantially higher rents, it still receives more than 50% of gross rental revenue from Sears Holdings. Such rental revenue contribution combined with constant fear of Sears underperforming during the crucial holiday season has created a headwind on SRG’s stock price.

From the Keeley All Cap Value Fund fourth quarter 2017 shareholder letter.


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