Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG) shares passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $2.63 and traded as high as $2.73. Seritage Growth Properties shares last traded at $2.6650, with a volume of 99,786 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Seritage Growth Properties Stock Performance

The stock’s 50-day moving average price is $2.63 and its 200 day moving average price is $3.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 18.47 and a quick ratio of 18.47. The firm has a market cap of $150.12 million, a P/E ratio of -1.85 and a beta of 2.21.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings data on Friday, May 15th. The financial services provider reported ($0.56) EPS for the quarter. The business had revenue of $2.05 million during the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Institutional Trading of Seritage Growth Properties

A number of institutional investors have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Seritage Growth Properties by 0.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock worth $19,640,000 after purchasing an additional 22,060 shares in the last quarter. K2 Principal Fund L.P. lifted its position in shares of Seritage Growth Properties by 5.6% in the fourth quarter. K2 Principal Fund L.P. now owns 1,056,400 shares of the financial services provider’s stock worth $3,433,000 after purchasing an additional 56,400 shares in the last quarter. Towerview LLC lifted its position in shares of Seritage Growth Properties by 28.8% 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 in the last quarter. Yakira Capital Management Inc. lifted its position in shares of Seritage Growth Properties by 20.9% in the fourth quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock worth $3,240,000 after purchasing an additional 172,201 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Seritage Growth Properties by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,050 shares in the last quarter. Institutional investors own 78.93% of the company’s stock.

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.