Seritage Growth Properties (NYSE:SRG) Upgraded 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 report published on Sunday morning.

Separately, Weiss Ratings raised shares of Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Seritage Growth Properties Price Performance

NYSE:SRG opened at $2.12 on Friday. Seritage Growth Properties has a one year low of $2.05 and a one year high of $4.56. The company has a market cap of $119.13 million, a P/E ratio of -2.03 and a beta of 2.21. The firm’s fifty day moving average price is $2.47 and its two-hundred day moving average price is $2.66. The company has a debt-to-equity ratio of 0.17, a current ratio of 18.98 and a quick ratio of 18.98.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings data 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 net margin of 419.02% and a negative return on equity of 17.06%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SRG. Barclays PLC boosted its position in shares of Seritage Growth Properties by 307.7% in the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 5,717 shares during the period. CIBC Asset Management Inc bought a new position in Seritage Growth Properties during the fourth quarter worth about $34,000. Invesco Ltd. bought a new position in Seritage Growth Properties during the second quarter worth about $60,000. Bank of America Corp DE increased its position in Seritage Growth Properties by 725.6% during the third quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 12,857 shares during the period. Finally, Brevan Howard Capital Management LP raised its stake in Seritage Growth Properties by 89.2% in the 2nd quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 9,839 shares in the last quarter. Institutional investors own 78.93% of the company’s stock.

About Seritage Growth Properties

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.