Seritage Growth Properties (NYSE: SRG) reported Q4 EPS of ($0.70), versus ($1.57) reported last year. Revenue for the quarter came in at $36.63 million, versus $55.11 million reported last year.

For the quarter ended December 31, 2019:

• Net loss attributable to common shareholders of $25.9 million, or $0.70 per share
• Total Net Operating Income (“Total NOI”) of $19.1 million
• Funds from Operations (“FFO”) of ($20.1) million, or ($0.36) per share
• Company FFO of ($15.0) million, or ($0.27) per share

“Our strong fourth quarter was another period of consistent execution across our key strategic priorities. With 814,000 square feet of new leasing at a 3.9x re-leasing multiple, we continue to diversify our tenant roster, which is now 95% comprised of non-Sears income on a signed leased basis. We continue to harvest value and reduce our portfolio holdings through select asset sales, recycling the capital raised accretively into our redevelopment pipeline. Since July 2017, we have raised over $700 million from asset monetization activities, including $155 million in 2019,” said Benjamin Schall, President and Chief Executive Officer. “We are increasingly focused on the execution of our premier and mixed-used projects and are excited to have announced our multifamily led projects in Redmond (WA), Dallas and Chicago in the fourth quarter. These projects are part of the 6,800 apartment units for which we have signed agreements with leading multifamily partners to entitle and develop. Taken together, these activities provide us with stability, a growing income base and a set of close relationships with retailers and related users, mixed-use developers and capital providers that we expect will serve us well in 2020.”

For earnings history and earnings-related data on Seritage Growth Properties (SRG) click here.