Seritage Growth Properties (NYSE:SRG) Stock Passes Below 50 Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.53 and traded as low as $3.53. Seritage Growth Properties shares last traded at $3.5450, with a volume of 151,896 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Seritage Growth Properties in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties presently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Up 3.4%

The firm has a market cap of $206.73 million, a P/E ratio of -2.58 and a beta of 2.38. The stock’s 50 day simple moving average is $3.52 and its two-hundred day simple moving average is $3.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 10.13 and a quick ratio of 10.13.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings results on Friday, November 14th. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $4.79 million during the quarter. Seritage Growth Properties had a negative return on equity of 20.13% and a negative net margin of 404.37%.

Institutional Trading of Seritage Growth Properties

A number of institutional investors and hedge funds have recently modified their holdings of the business. Worth Venture Partners LLC boosted its holdings in shares of Seritage Growth Properties by 21.3% during the 3rd quarter. Worth Venture Partners LLC now owns 94,023 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 16,523 shares during the last quarter. 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 valued at $62,000 after acquiring an additional 12,857 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Seritage Growth Properties by 5.3% in the third quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 7,263 shares during the period. Ursa Fund Management LLC purchased a new position in Seritage Growth Properties in the third quarter worth about $722,000. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Seritage Growth Properties by 0.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock valued at $19,640,000 after purchasing an additional 22,060 shares during the period. 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.