|Bid||0.00 x 900|
|Ask||0.00 x 1400|
|Day's Range||36.46 - 37.00|
|52 Week Range||34.07 - 51.89|
|Beta (3Y Monthly)||1.69|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||1.00 (2.71%)|
|1y Target Est||N/A|
Howard Hughes Corp. now controls the 51-acre Landmark Mall property in its entirety. “We now control the whole site,” Bulmash told the audience at Alexandria's Cameron Station. Now we’re in to replan the site.” This does not appear to be a sale, but rather a partnership between Dallas-based Howard Hughes and Seritage Growth Properties (NYSE: SRG), owner of the Sears store at Landmark.
A giant turkey vulture, weighing roughly 30 pounds, and with a wingspan measured in yards, waited patiently for cars to pass before swooping in and feasting on the carcass. Sears Holdings (OTCMKTS:SHLDQ) is a squirrel. Care to be a turkey vulture in Sears stock? Sears filed for bankruptcy on Oct. 15, but you can still trade the stock.
Succeeding in traditional retail is harder than ever because of the internet, and smaller malls are struggling. Many have closed across the country or are being partially converted into offices and other uses.
The Sears Holdings real estate spinoff posted a sharp decline in profitability for the third quarter, and things will get worse before they get better.
The New York-based company said it had a loss of 66 cents per share. The real estate investment trust posted revenue of $56.6 million in the period. Seritage Growth Properties shares have declined almost ...
The deals, including separations of Sears' businesses and real estate, may come under examination in bankruptcy proceedings, with creditors claiming the transactions stripped the retailer of valuable assets. Billionaire Lampert is the largest shareholder and creditor of Sears through his hedge fund, ESL Investments Inc.
Seritage Growth Properties will face some short-term pain if primary tenant Sears Holdings rejects its master lease with the REIT. But that pain could pave the way for long-term gains.
Sears filed for Chapter 11 bankruptcy protection in White Plains, New York earlier on Monday with a plan to close about 142 of its 700 stores by year-end and sell its best-performing stores in an auction in January to a buyer that will keep them operational. The bankruptcy filing by the parent of Sears, Roebuck and Co and Kmart Corp follows a decade of revenue declines, hundreds of store closures, and years of deals by billionaire Eddie Lampert in an attempt to turn around the company he acquired in 2005 for $11 billion. Lampert, who stepped down as Sears CEO on Monday but will remain chairman, had pledged to restore Sears to its glory days, when it owned the tallest building in the world and companies that included a radio station and Allstate insurance.
Corp. three years ago, tried to reassure investors on Monday that it still has a bright future even though Sears, its biggest tenant, has filed for bankruptcy. Seritage sought to persuade investors that it has a sufficient cash cushion to weather any rent shortfall from Sears. In 2015, as a way to raise $2.7 billion in cash, Sears spun off 234 stores and its 50% interest in three joint ventures for 28 other stores into a newly listed company: Seritage.
Sears Holding Corp. (NASDAQ: SHLD) is preparing a bankruptcy filing, according to multiple media reports, and depending on how that goes it could leave multiple big-box retail stores vacant around the Phoenix area. The newspaper also reported some of Sears’ largest lenders are asking the company to liquidate rather than reorganize. Edward Lampert, Sears’ CEO, largest shareholder and largest creditor, is reportedly also looking for an out-of-court reorganization that would keep the company running but would mean closing a number of stores, selling off some brands and getting rid of more than $1 billion worth of real estate. No matter what path Sears management decides to take, there is a chance some, if not all, of the five remaining Sears stores around the Valley could shutter.
It won’t be easy, but the project could find success with Orlando’s most prominent developer, experts say.
The bankruptcy filing would end a standoff between Chief Executive Officer Eddie Lampert, the retailer's biggest shareholder and lender, and a special board committee the company has formed to consider a rescue plan proposed by Lampert that would involve asset sales and a debt restructuring. The committee has been resisting the plan amid concerns that creditors and shareholders would sue over it being too favourable for Lampert.
Upon its creation in June 2015, Seritage absorbed a portfolio of 235 properties from Sears Holdings, consisting of approximately 36.7 million square feet of building space diversified across 49 states and Puerto Rico. As Sears has trudged toward going out of business, Seritage shareholders have enjoyed a nearly 15% return year to date. Many shareholders are expecting more of the same dichotomous return as Sears potentially liquidates and opens up Seritage properties to "superior terms" agreements with high-rent clientele like Equinox.
Sears Holdings reportedly has one foot in the grave. Yahoo Finance looks at why billionaire Warren Buffett will still come out a winner if Sears goes bust.
Whittall is the latest developer to attempt to resuscitate the shopping center on Colonial Drive, which has has changed hands at least four times since 2004.
The first piece of Seritage Growth Properties' (NYSE: SRG) $20 million Orlando Fashion Square mall project is in place and open for business as Georgia-based Floor & Decor (NYSE: FND) officially will open a new 70,113-square-foot retail store and design center at 3111 E Colonial Drive on Oct. 4. The location replaces the 42,376-square-foot Floor & Decor at the nearby Colonial Plaza shopping center, and currently is in soft opening mode and hiring. "The team from the other location is coming here, but we also have 15-20 additional open positions," store manager Rafael Gonzalez told Orlando Business Journal during an Oct. 1 tour.
Sears Holdings is still Seritage Growth Properties' primary tenant. But while that's not ideal, Seritage isn't likely to face financial distress even if its former parent is forced into bankruptcy
Seritage Growth Properties (NYSE:SRG), which is in the reits business, and is based in United States, saw a decent share price growth in the teens level on the NYSE overRead More...