Seritage Growth Properties (NYSE:SRG) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Seritage Growth Properties (NYSE:SRG) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings downgraded shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Seritage Growth Properties has a consensus rating of “Sell”.

Seritage Growth Properties Trading Up 0.7%

SRG stock opened at $2.29 on Friday. The firm has a market cap of $128.71 million, a PE ratio of -2.20 and a beta of 2.21. The firm has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47. Seritage Growth Properties has a fifty-two week low of $2.25 and a fifty-two week high of $4.56.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data on Friday, August 14th. The financial services provider reported ($0.13) EPS for the quarter. Seritage Growth Properties had a negative net margin of 487.58% and a negative return on equity of 23.03%. The business had revenue of $1.87 million for the quarter.

Hedge Funds Weigh In On Seritage Growth Properties

Hedge funds have recently added to or reduced their stakes in the company. Creek Drive Management Group LLC purchased a new stake in shares of Seritage Growth Properties in the fourth quarter worth approximately $1,421,000. Clutterbuck Capital Management LLC purchased a new position in Seritage Growth Properties during the 4th quarter valued at $1,343,000. Ancora Advisors LLC bought a new position in Seritage Growth Properties in the 2nd quarter valued at $691,000. Marshall Wace LLP grew its position 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 acquiring an additional 250,989 shares during the last quarter. Finally, Towerview LLC increased its stake in Seritage Growth Properties by 28.7% in the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after purchasing an additional 230,000 shares during the period. 78.93% of the stock is currently owned by institutional investors.

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.