Seritage Growth Properties (NYSE:SRG) Share Price Crosses Below 50 Day Moving Average of $6.51

Seritage Growth Properties (NYSE:SRG) shares crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.51 and traded as low as $4.53. Seritage Growth Properties shares last traded at $4.67, with a volume of 537,048 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised Seritage Growth Properties to a “sell” rating in a research report on Monday, May 13th.

Seritage Growth Properties Stock Performance

The firm has a market cap of $262.75 million, a price-to-earnings ratio of -2.23 and a beta of 2.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 7.92 and a quick ratio of 7.92. The firm has a fifty day simple moving average of $6.51 and a two-hundred day simple moving average of $8.39.

Seritage Growth Properties (NYSE:SRG) last released its earnings results on Friday, May 10th. The financial services provider reported ($0.36) EPS for the quarter. The company had revenue of $5.77 million during the quarter. Seritage Growth Properties had a negative return on equity of 1.34% and a negative net margin of 432.54%.

Insider Activity

In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 25,655 shares of Seritage Growth Properties stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $9.76, for a total transaction of $250,392.80. Following the completion of the sale, the insider now owns 13,484,162 shares of the company’s stock, valued at approximately $131,605,421.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Seritage Growth Properties

A number of institutional investors have recently bought and sold shares of SRG. Gamco Investors INC. ET AL increased its stake in shares of Seritage Growth Properties by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 258,623 shares of the financial services provider’s stock worth $2,496,000 after acquiring an additional 3,050 shares during the period. FNY Investment Advisers LLC boosted its holdings in Seritage Growth Properties by 500.0% in the fourth quarter. FNY Investment Advisers LLC now owns 6,000 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 5,000 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Seritage Growth Properties by 11.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 54,000 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 5,496 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Seritage Growth Properties by 49.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,868 shares of the financial services provider’s stock valued at $251,000 after buying an additional 8,932 shares during the last quarter. Finally, Huber Capital Management LLC acquired a new position in shares of Seritage Growth Properties in the 1st quarter valued at about $140,000. 78.93% of the stock is owned by hedge funds and other institutional investors.

Seritage Growth Properties Company Profile

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.