Seritage Growth Properties (NYSE:SRG) Announces Quarterly Earnings Results

Seritage Growth Properties (NYSE:SRG) issued its quarterly earnings results on Friday. The financial services provider reported $0.05 earnings per share for the quarter, Zacks reports. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%.

Seritage Growth Properties Stock Performance

Seritage Growth Properties stock traded down $0.03 during midday trading on Friday, hitting $1.51. 58,044 shares of the company were exchanged, compared to its average volume of 217,443. The business has a fifty day simple moving average of $1.75 and a two-hundred day simple moving average of $2.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 18.98 and a current ratio of 18.98. The firm has a market capitalization of $85.33 million, a PE ratio of -1.46 and a beta of 2.27. Seritage Growth Properties has a fifty-two week low of $1.50 and a fifty-two week high of $4.18.

Wall Street Analysts Forecast Growth

Several analysts have commented on SRG shares. Wall Street Zen upgraded shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings lowered shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a real estate investment trust that owns, redevelops and manages commercial properties in the United States. Its portfolio has included former Sears and Kmart locations, many of which the company has sought to reposition for new uses. The company’s redevelopment projects have included retail, residential, office, hospitality and entertainment space, as well as mixed-use properties. Seritage was formed in 2015 through a spin-off from Sears Holdings. In recent years, Seritage has focused on selling properties and advancing redevelopment efforts as it monetizes its real estate portfolio.