Seritage Growth Properties reported a net loss attributable to common shareholders of $(12.576) million for the fourth quarter ended December 31, 2024, compared to a net income of $4.739 million in the prior-year quarter. The net loss per share for Q4 2024 was $(0.22).
For the full year ended December 31, 2024, the company reported a net loss of $(158.436) million, or $(2.82) per share, compared to a net loss of $(159.811) million, or $(2.85) per share, in 2023. NOI-cash basis at share for Q4 2024 was $3.522 million, an increase from $1.381 million in Q4 2023, but full-year NOI-cash basis at share decreased to $2.588 million from $8.600 million in 2023.
As of December 31, 2024, Seritage had $97.7 million in cash on hand. CEO Andrea Olshan stated that the company anticipates marketing a majority of its remaining assets throughout 2025. The company also provided updates on the class action lawsuit filed July 1, 2024, and the derivative lawsuits filed around January 15 and January 20, 2025, reiterating its intent to vigorously defend against these allegations.
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