Seritage Growth Properties filed its quarterly report on Form 10-Q with the SEC on November 13, 2026, covering the period ended September 30, 2026, disclosing a net income of $3.96 million for the third quarter and a net loss of $32.49 million for the nine months year-to-date.

Key Highlights

  • Q3 net income: Seritage reported net income of $3,960 thousand for the three months ended September 30, 2026, compared to a net loss of $12,422 thousand in the same period of 2025, according to the filing.
  • Nine-month net loss: The company reported a net loss of $32,486 thousand for the nine months ended September 30, 2026, versus a net loss of $63,130 thousand for the same period in 2025.
  • Total revenue decline: Total revenue for the nine months ended September 30, 2026 was $5,559 thousand, compared to $14,037 thousand for the same period in 2025.
  • Impairment charge: The filing disclosed impairment of real estate assets of $15,183 thousand for the nine months ended September 30, 2026.
  • Total assets: Total assets were $333,660 thousand as of September 30, 2026, down from $393,779 thousand as of December 31, 2025.
  • Cash position: Cash and cash equivalents stood at $12,720 thousand as of September 30, 2026, compared to $48,088 thousand at December 31, 2025.
  • Shares outstanding: As of November 12, 2026, the registrant had 56,324,607 Class A common shares outstanding, with zero Class B and Class C shares outstanding.

Seritage Reports Q3 Profit Amid Continuing Nine-Month Loss and Asset Reduction

Seritage Growth Properties (NYSE:SRG), a Maryland real estate investment trust headquartered at 500 Fifth Avenue, Suite 1530, New York, New York, filed its Form 10-Q for the quarterly period ended September 30, 2026. According to the filing, the company recorded net income of $3,960 thousand in the third quarter of 2026, a shift from the net loss of $12,422 thousand reported in the third quarter of 2025. Equity in income of unconsolidated entities contributed $7,707 thousand in Q3 2026, compared to $644 thousand in Q3 2025, the filing disclosed.

For the nine months ended September 30, 2026, the company reported total revenue of $5,559 thousand, down from $14,037 thousand in the prior-year period, driven primarily by a decline in rental income from $13,586 thousand to $5,171 thousand, according to the filing. Total expenses for the nine-month period were $20,258 thousand, compared to $44,622 thousand in the same period of 2025. The filing also disclosed a loss on debt extinguishment of $77 thousand and interest expense of $7,107 thousand for the nine months ended September 30, 2026.

The company's balance sheet reflected continued asset reduction, the filing showed. Net investment in real estate fell to $130,665 thousand from $146,073 thousand at December 31, 2025, and investment in unconsolidated entities declined to $140,926 thousand from $156,242 thousand. Total shareholders' equity was $294,952 thousand as of September 30, 2026, down from $331,416 thousand at year-end 2025. The accumulated deficit widened to $1,067,666 thousand from $1,031,893 thousand. The filing noted that as of September 30, 2026, the company no longer holds any consolidated variable interest entities. Preferred dividends declared for the nine months totaled $3,675 thousand, or $1.3125 per share, according to the filing.

What Was Disclosed

Seritage Growth Properties disclosed its unaudited condensed consolidated financial statements for the quarter and nine months ended September 30, 2026, reporting a Q3 net income of $3,960 thousand, a year-to-date net loss of $32,486 thousand, total assets of $333,660 thousand, and an accumulated deficit of $1,067,666 thousand.