Seritage Growth Properties (NYSE:SRG) Stock Passes Below Fifty Day Moving Average – Here’s Why

Seritage Growth Properties (NYSE:SRG)’s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $4.06 and traded as low as $4.00. Seritage Growth Properties shares last traded at $4.07, with a volume of 126,649 shares traded.

Analyst Upgrades and Downgrades

SRG has been the subject of a number of research reports. Wall Street Zen raised shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Seritage Growth Properties in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Performance

The company has a market cap of $229.26 million, a price-to-earnings ratio of -2.56 and a beta of 2.38. The company has a current ratio of 11.03, a quick ratio of 11.03 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $4.06 and its 200 day simple moving average is $3.39.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data on Thursday, August 14th. The financial services provider reported ($0.53) EPS for the quarter. The business had revenue of $4.65 million during the quarter. Seritage Growth Properties had a negative net margin of 497.67% and a negative return on equity of 21.55%.

Institutional Trading of Seritage Growth Properties

Hedge funds have recently bought and sold shares of the business. Tabor Asset Management LP acquired a new stake in Seritage Growth Properties in the 1st quarter valued at about $3,353,000. Goldman Sachs Group Inc. raised its holdings in Seritage Growth Properties by 15.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider’s stock valued at $980,000 after acquiring an additional 41,711 shares during the last quarter. Groupe la Francaise acquired a new stake in Seritage Growth Properties in the 1st quarter valued at about $2,002,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Seritage Growth Properties by 51.1% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 686,994 shares of the financial services provider’s stock valued at $2,219,000 after acquiring an additional 232,382 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Seritage Growth Properties during the 1st quarter worth approximately $127,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

About Seritage Growth Properties

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.