Seritage Growth Properties (NYSE:SRG) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Seritage Growth Properties (NYSE:SRG) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $3.12 and traded as low as $2.75. Seritage Growth Properties shares last traded at $2.7540, with a volume of 216,060 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seritage Growth Properties in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Seritage Growth Properties Trading Down 0.9%

The firm has a market cap of $152.94 million, a P/E ratio of -1.91 and a beta of 2.43. The business’s 50-day moving average is $3.09 and its two-hundred day moving average is $3.56. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58.

Institutional Trading of Seritage Growth Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in Seritage Growth Properties by 21.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock worth $132,000 after buying an additional 7,271 shares during the last quarter. XTX Topco Ltd acquired a new stake in Seritage Growth Properties in the fourth quarter worth $87,000. Invesco Ltd. bought a new stake in Seritage Growth Properties in the second quarter valued at $60,000. CIBC Asset Management Inc bought a new stake in Seritage Growth Properties in the fourth quarter valued at $34,000. Finally, Creek Drive Management Group LLC acquired a new position in shares of Seritage Growth Properties during the fourth quarter valued at $1,421,000. 78.93% of the stock is currently owned by institutional investors and hedge funds.

About Seritage Growth Properties

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.