7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-09-30 2017-07-07 2017-06-30 2017-03-31 2016-07-07 2016-07-07 2016-06-30 2016-03-31 2015-07-07 2015-07-07 
      
    		                                         
      revenue
    		                                         
      rental income
    		4,603,000 4,526,000 4,457,000 4,265,000 2,899,000 4,166,000 5,725,000 4,601,000 4,525,000 5,517,000 418,000 22,854,000 23,253,000 29,418,000 29,084,000 28,091,000 28,819,000 27,595,000 31,146,000 27,478,000 33,966,000 21,648,000 33,110,000     41,985,000 41,152,000 35,839,000 37,079,000 48,167,000 44,460,000 42,185,000 49,174,000 41,389,000 41,389,000 45,927,000 45,226,000 41,389,000 41,389,000 
      management and other fee income
    		182,000 127,000 142,000 117,000 352,000 50,000 48,000 4,567,000 523,000 367,000 262,000 91,000 248,000 286,000 1,821,000   279,000 135,000 174,000 -259,000 171,000 207,000 -1,293,000 795,000 1,814,000 282,000 167,000 115,000 914,000            
      total revenue
    		4,785,000 4,653,000 4,599,000 4,382,000 3,251,000 4,216,000 5,773,000 9,168,000 5,048,000 5,884,000 680,000 22,945,000 23,501,000 29,704,000 30,905,000 28,525,000 29,003,000 27,874,000 31,281,000 27,652,000 33,707,000 21,819,000 33,317,000 36,634,000 47,628,000 40,511,000 43,860,000 55,114,000 56,593,000 49,270,000 53,777,000 64,048,000 55,678,000 57,893,000 65,398,000 54,063,000 54,063,000 61,867,000 63,004,000 54,063,000 54,063,000 
      expenses
    		                                         
      property operating
    		3,625,000 3,237,000 2,908,000 4,248,000 4,258,000 4,160,000 3,673,000 3,337,000 4,564,000 5,196,000 8,185,000 10,235,000 9,700,000 10,801,000 11,032,000 11,493,000 11,585,000 11,286,000 10,643,000 11,012,000 11,154,000 8,697,000 10,301,000 11,122,000 11,462,000 9,302,000 10,237,000 8,583,000 6,348,000 6,533,000 7,241,000 4,311,000 1,397,000 4,932,000 4,742,000 2,815,000 2,815,000 5,553,000 7,118,000 2,815,000 2,815,000 
      abandoned project costs
    		    5,732,000                                     
      real estate taxes
    		607,000 692,000 953,000 333,000 971,000 1,238,000 1,393,000 1,218,000 1,204,000 2,170,000 1,537,000 2,894,000 6,483,000 6,425,000 8,150,000 7,498,000 8,542,000 9,061,000 10,155,000 8,672,000 9,487,000 9,384,000 9,225,000 9,080,000 9,164,000 10,159,000 10,192,000 9,649,000 12,199,000 9,217,000 11,381,000 11,335,000 10,405,000 11,950,000 12,422,000 10,741,000 10,741,000 11,667,000 11,469,000 10,741,000 10,741,000 
      depreciation and amortization
    		1,698,000 2,040,000 2,075,000 2,258,000 4,377,000 1,212,000 5,271,000 2,843,000 2,913,000 4,151,000 4,564,000 9,342,000 9,169,000 10,669,000 11,934,000 11,570,000 13,159,000 13,328,000 13,142,000 14,551,000 23,647,000 23,702,000 34,097,000 36,578,000 21,593,000 20,194,000 26,216,000 92,627,000 49,830,000 49,551,000 34,667,000 61,059,000 15,336,000 50,571,000 58,663,000 32,935,000 32,935,000 37,324,000 39,509,000 32,935,000 32,935,000 
      general and administrative
    		4,922,000 6,172,000 15,693,000 6,777,000 7,178,000 6,874,000 9,192,000 15,639,000 8,030,000 10,099,000 12,220,000 16,638,000 10,811,000 11,093,000 9,092,000 9,947,000 8,780,000 11,990,000 11,232,000 -418,000 11,203,000 8,644,000 9,420,000 12,970,000 8,130,000 8,297,000 9,759,000 9,980,000 8,338,000 8,673,000 7,797,000 5,272,000 4,863,000 5,093,000 6,274,000 5,782,000 5,782,000 4,413,000 4,439,000 5,782,000 5,782,000 
      total expenses
    		10,852,000 12,141,000 21,629,000 13,616,000 22,516,000 13,484,000 19,529,000 23,037,000 16,711,000 21,616,000 26,506,000 39,109,000 36,696,000 73,988,000 40,208,000 40,508,000 42,066,000 45,665,000 45,172,000 33,817,000 55,491,000 50,427,000 63,043,000 69,750,000 50,349,000 47,952,000 56,404,000 120,839,000 76,802,000 74,083,000 61,147,000 82,045,000 50,386,000 72,558,000 82,140,000 70,613,000 70,613,000 59,102,000 62,608,000 70,613,000 70,613,000 
      gain on sale of real estate
    		 1,967,000 6,936,000 3,321,000 4,184,000 2,034,000 1,139,000 31,828,000 18,506,000 33,488,000 12,392,000 99,487,000 45,433,000 68,031,000    18,097,000 24,208,000 28,596,000 -14,706,000 52,064,000 20,788,000 25,786,000 12,445,000 11,612,000 21,261,000 2,746,000 17,401,000 34,187,000 41,831,000 13,018,000          
      loss on sale of interests in unconsolidated entities
    		 -1,417,000          -34,750 -139,000                             
      impairment of real estate assets
    		-800,000 -18,000,000    -86,388,000 -1,148,000   -104,467,000 -2,576,000 -6,278,000 -10,275,000 -109,343,000 -991,000 -25,773,000 -3,814,000 -64,539,000 -1,700,000 -47,701,000 -14,594,000                     
      equity in income of unconsolidated entities
    		644,000 756,000 -7,928,000 -17,250 118,000  379,000 -12,269,250 993,000                                 
      interest and other income
    		-834,000 930,000 860,000 1,245,000 -872,000 717,000 1,423,000 -417,000 2,030,000 9,869,000 5,585,000 38,690,000 -1,047,000 99,000 11,000 1,083,000 48,000 530,000 7,624,000 934,000 1,986,000 141,000 333,000 635,000 1,416,000 2,175,000 2,598,000 5,588,000 1,162,000 456,000 680,000 352,000 94,000 42,000 78,000 38,000 38,000 59,000 60,000   
      interest expense
    		-5,290,000 -5,139,000 -5,230,000 -5,628,000 -6,051,000 -6,282,000 -7,011,000 -7,078,000 -9,763,000 -12,528,000 -15,202,000 -19,563,000 -21,916,000 -22,663,000 -22,588,000 -26,128,000 -26,721,000 -28,976,000 -26,150,000 -24,916,000 -22,742,000 -22,145,000 -21,513,000 -26,878,000 -22,046,000 -22,141,000 -23,454,000 -25,016,000 -30,723,000 -17,862,000 -16,419,000 -18,049,000 -12,030,000 -18,431,000 -16,592,000 -14,796,000 -14,796,000 -15,636,000 -15,730,000 -14,796,000 -14,796,000 
      income before income taxes
    		-12,347,000 -28,391,000 -22,392,000 -11,339,000 -21,886,000 -99,753,000 -18,974,000 3,684,000 -813,000 -95,745,000 -61,999,000 92,625,000 -3,414,000 -141,880,000             -10,917,000 7,570,000 -52,052,000 -44,549,000 16,305,000 17,276,000 -3,139,000 -34,720,000 -32,725,000 -31,402,000 -31,402,000 -12,380,000 -14,559,000 -31,402,000 -31,402,000 
      benefit from income taxes
    		-75,000   -12,000 -87,000    -89,000   -73,750 -67,000              23,000 116,000 -93,000 -240,000 -104,000  -797,000 -147,000 -119,000 -451,000 -451,000 -185,000 -155,000 -451,000 -451,000 
      net income
    		-12,422,000 -28,506,000 -22,202,000 -11,351,000 -21,973,000 -101,227,000 -18,985,000 3,684,000 -902,000 -95,707,000 -61,986,000 92,454,000 -3,481,000 -142,083,000 -66,987,000 93,601,000 -26,349,000  -10,933,000 -49,692,000 -72,401,000 104,000 -30,975,000 -37,342,000 -16,482,000 -25,885,000 -10,894,000 -85,733,000 -34,744,000 -10,602,000 16,201,000 17,276,000 -3,936,000 -34,867,000 -32,844,000 -31,853,000 -31,853,000 -12,565,000 -14,714,000 -31,853,000 -31,853,000 
      yoy
    		-43.47% -71.84% 16.94% -408.12% 2336.03% 5.77% -69.37% -96.02% -74.09% -32.64% -7.47% -1.23% -86.79%  512.70% -288.36% -63.61%  -64.70% 33.07% 339.27% -100.40% 184.33% -56.44% -52.56% 144.15% -167.24% -596.25% 782.72% -69.59% -149.33% -154.24% -87.64% 177.49% 123.22% 0.00% 0.00%     
      qoq
    		-56.42% 28.39% 95.60% -48.34% -78.29% 433.19% -615.34% -508.43% -99.06% 54.40% -167.05% -2755.96% -97.55% 112.11% -171.57% -455.24%   -78.00% -31.37% -69716.35% -100.34% -17.05% 126.56% -36.33% 137.61% -87.29% 146.76% 227.71% -165.44% -6.22% -538.92% -88.71% 6.16% 3.11% 153.51% 153.51% -14.61% -53.81%   
      net income margin %
    		                                         
      preferred dividends
    		-1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,225,000 -1,228,000     0.00% 0.00%     
      net income attributable to seritage common shareholders
    		-13,647,000 -29,731,000 -23,427,000 -12,576,000 -23,198,000 -102,452,000 -20,210,000 2,459,000 -2,127,000 -96,932,000 -63,211,000 91,229,000 -4,664,000 -111,980,000 -53,430,000 71,720,000 -21,759,000 -74,065,000 -8,945,000 -35,606,000 -51,278,000 -1,153,000 -21,889,000 -25,874,000 -12,103,000 -18,128,000 -8,192,000 -56,038,000 -23,441,000 -7,996,000 9,100,000     0.00% 0.00%   0.00% 0.00% 
      net income per share
    		-0.24 -0.53 -0.42 -0.23 -0.41 -1.82 -0.36 0.04 -0.04 -1.73 -1.13 1.98 -0.08 -2.56 -1.22 1.72 -0.5 -1.73 -0.23 -0.92 -1.33 -0.03 -0.59 -0.71 -0.33 -0.5 -0.23 -1.57 -0.66 -0.23 0.26 0.31 -0.08 -0.63 -0.59   -0.23 -0.27   
      weighted-average class a common shares outstanding - basic
    		56,324 56,324 56,283 56,255 56,268 56,268 56,215 56,151 56,183 56,173 56,059 49,729 55,361 43,677 43,634 42,393 43,631 42,772                        
      weighted-average class a common shares outstanding - diluted
    		56,324 56,324 56,283 56,255 56,268 56,268 56,215 56,151 56,183 56,173 56,059 49,729 55,361 43,677 43,634 42,393 43,631 42,772                        
      benefit for income taxes
    		 -115,000 190,000   -1,474,000 -11,000   38,000 13,000                         -0.58 -0.58   -0.58 -0.58 
      gain on sale of interest in unconsolidated entities
    		        -916,000 7,323,000                                
      equity in loss of unconsolidated entities
    		     -566,000    -13,698,000 -36,372,000 -3,009,000 -2,275,000 -33,720,000 -33,076,000 -202,000 -5,535,000 -2,327,000 -1,162,000 -2,161,000 -335,000                     
      litigation settlement
    		                                         
      net income attributable to non-controlling interests
    		            42,000 31,328,000 14,782,000 -20,656,000 5,815,000  3,213,000 15,311,000 22,348,000  10,311,000 12,693,000 5,604,000 8,982,000 3,927,000      2,817,000 13,648,000 13,006,000   5,448,000 6,379,000   
      net income attributable to seritage
    		       3,684,000 -902,000 -95,707,000 -61,986,000 92,454,000 -3,439,000 -110,755,000 -52,205,000 72,945,000 -20,534,000  -7,720,000 -34,381,000 -50,053,000 72,000 -20,664,000 -24,649,000 -10,878,000   -54,813,000 -22,216,000 -6,771,000 10,328,000           
      litigation reserve
    		           8,883,250 533,000 35,000,000                            
      (provision) for income taxes
    		             -203,000                      13,552,000 13,552,000   13,552,000 13,552,000 
      (loss)/gain on sale of real estate
    		              -1,015,000                           
      income before taxes
    		              -66,962,000 -33,097,000 -26,311,000  -11,071,000 -25,764,250 -72,175,000 130,000 -31,012,000 -13,294,500 -16,522,000 -25,739,000                
      (provision)/benefit from income taxes
    		              -25,000                           
      management and other fee income /
    		               149,500 184,000                         
      gain / (loss) on sale of real estate
    		               16,269,750 22,774,000                         
      benefit from taxes
    		               -49,500 -38,000   -53,750 -226,000 -26,000 37,000 -20,750 40,000 -146,000                
      income / (loss) before taxes
    		                 -95,006,000                        
      benefit for taxes
    		                 -298,000 138,000                       
      net income /
    		                 -95,304,000                        
      net income / (loss) attributable to non-controlling interests
    		                 22,464,000                        
      net income / (loss) attributable to seritage
    		                 -72,840,000                        
      weighted-average class a and class c common shares outstanding - basic
    		                  39,477 38,298 38,645 38,634 37,232 36,413 36,829 36,291 35,671 35,560 35,598 35,483 35,414 33,774          
      weighted-average class a and class c common shares outstanding - diluted
    		                  39,477 38,298 38,645 38,634 37,232 36,413 36,829 36,291 35,671 35,560 35,598 35,483 35,501 33,841          
      equity in loss of unconsolidated joint ventures
    		                     -1,322,000  -3,656,000 -5,616,000 -9,944,000  -1,751,500 -2,266,000 -2,158,000            
      net (income) loss attributable to non-controlling interests
    		                     -32,000        3,831,000 -5,873,000 -6,762,000        31,384 31,384 
      equity in income of unconsolidated joint ventures
    		                      -894,000    1,222,000    -2,582,000 -3,686,000 6,314,000 -1,542,000 1,002,000   912,000 2,086,000 31,384 31,384 
      rental revenue
    		                       32,277,000 46,833,000 38,697,000 43,578,000               
      benefit from doubtful accounts
    		                            87,000 109,000 61,000 68,000 3,000 12,000 39,000       
      change in fair value of interest rate cap
    		                            -16,000       2,720,000 2,720,000   2,720,000 2,720,000 
      net income (income) attributable to seritage
    		                         -16,903,000 -6,967,000               
      tenant reimbursements
    		                           12,962,000 15,326,000 12,517,000 16,698,000 15,881,000 11,218,000 15,708,000 16,224,000   15,940,000 17,778,000   
      operating income
    		                           -13,098,000 -20,209,000 -24,813,000 -7,370,000 -17,997,000 5,292,000 -14,665,000 -16,742,000   2,765,000 396,000 -2,814,000 -2,814,000 
      yoy
    		                           -27.22% -481.88% 69.20% -55.98% 8.74% -131.98% -630.38% -4327.78% 0.00% 0.00%     
      qoq
    		                           -35.19% -18.55% 236.68% -59.05% -440.08% -136.09% -12.41% 1.16% -698.55% -698.55% 598.23% -102.39%   
      operating margin %
    		                                         
      income before gain on sale of real estate
    		                           -30,641,000 -52,145,000 -44,789,000            
      gain on sale of interests in unconsolidated joint ventures
    		                                   12,674,000 12,674,000   12,674,000 12,674,000 
      net income (income) attributable to non-controlling interests
    		                           2,621,500 12,528,000       -16,550,000 -16,550,000   -16,550,000 -16,550,000 
      unrealized loss on interest rate cap
    		                             -172,000  -91,000 -31,000 -124,000 -471,000 0.00% 0.00% -480,000 -1,371,000   
      unrealized gain on interest rate cap
    		                              165,000     0.00% 0.00%   0.00% 0.00% 
      litigation charge
    		                                         
      acquisition-related expenses
    		                                      73,000   
      gain on sale of interest in unconsolidated joint venture
    		                               43,729,000          
      net income attributable to common shareholders
    		                               10,514,000 -5,304,750 -21,219,000 -19,838,000   -7,117,000 -8,335,000   
      weighted-average class a and class c common shares outstanding - basic and diluted
    		                                31,386 33,766 33,510 -2,814,000 -2,814,000  31,391   
      allowance for doubtful accounts
    		                                     145,000    
      weighted-average class a and class c common shares outstanding—basic and diluted
    		                                     31,391    
      interest income
    		                                   18,340,000 18,340,000   18,340,000 18,340,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.