Seritage Growth Properties (NYSE:SRG) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.46 and traded as low as $3.21. Seritage Growth Properties shares last traded at $3.2650, with a volume of 169,316 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Seritage Growth Properties in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Seritage Growth Properties has an average rating of “Sell”.

Seritage Growth Properties Trading Down 1.1%

The business has a 50 day moving average of $3.46 and a two-hundred day moving average of $3.67. The firm has a market cap of $183.92 million, a P/E ratio of -2.30 and a beta of 2.43. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data on Friday, November 14th. The financial services provider reported ($0.24) EPS for the quarter. The company had revenue of $4.79 million during the quarter. Seritage Growth Properties had a negative net margin of 404.37% and a negative return on equity of 20.13%.

Hedge Funds Weigh In On Seritage Growth Properties

Several institutional investors and hedge funds have recently made changes to their positions in SRG. Levin Capital Strategies L.P. acquired a new stake in Seritage Growth Properties during the 3rd quarter worth approximately $42,000. Invesco Ltd. acquired a new position in Seritage Growth Properties in the 2nd quarter valued at $60,000. Bank of America Corp DE increased its position in Seritage Growth Properties by 725.6% during the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock worth $62,000 after buying an additional 12,857 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Seritage Growth Properties by 89.2% during the second quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after buying an additional 9,839 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new stake in shares of Seritage Growth Properties in the third quarter valued at about $72,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company’s core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.