Seritage Growth Properties (NYSE:SRG) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Seritage Growth Properties (NYSE:SRG) from a strong sell rating to a hold rating in a research report sent to investors on Sunday morning.

Separately, Weiss Ratings upgraded shares of Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Seritage Growth Properties Trading Up 0.9%

Shares of NYSE SRG opened at $2.15 on Friday. Seritage Growth Properties has a 12 month low of $2.05 and a 12 month high of $4.56. The company has a market cap of $121.11 million, a price-to-earnings ratio of -2.07 and a beta of 2.21. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $2.50 and a 200-day simple moving average of $2.67.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Friday, August 14th. The financial services provider reported ($0.13) earnings per share for the quarter. The company had revenue of $1.87 million during the quarter. Seritage Growth Properties had a negative return on equity of 17.06% and a negative net margin of 419.02%.

Institutional Trading of Seritage Growth Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. Newtyn Management LLC lifted its position in shares of Seritage Growth Properties by 5,411.3% in the second quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider’s stock worth $5,960,000 after purchasing an additional 2,225,110 shares in the last quarter. Creek Drive Management Group LLC purchased a new position in Seritage Growth Properties during the fourth quarter valued at approximately $1,421,000. Clutterbuck Capital Management LLC purchased a new position in Seritage Growth Properties during the fourth quarter valued at approximately $1,343,000. Ancora Advisors LLC acquired a new position in Seritage Growth Properties in the 2nd quarter valued at approximately $691,000. Finally, Marshall Wace LLP increased its stake in Seritage Growth Properties by 135.7% in the 2nd quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 250,989 shares during the period. 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.