Seritage Growth Properties (NYSE:SRG) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Seritage Growth Properties (NYSE:SRG)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.12 and traded as low as $2.40. Seritage Growth Properties shares last traded at $2.4950, with a volume of 453,814 shares traded.

Analysts Set New Price Targets

SRG has been the subject of a number of recent research reports. Wall Street Zen lowered Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Seritage Growth Properties Trading Up 9.3%

The company has a quick ratio of 18.47, a current ratio of 18.47 and a debt-to-equity ratio of 0.16. The firm has a market cap of $151.53 million, a price-to-earnings ratio of -1.87 and a beta of 2.24. The business has a 50 day moving average price of $2.64 and a 200-day moving average price of $3.11.

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

Institutional Investors Weigh In On Seritage Growth Properties

A number of hedge funds have recently bought and sold shares of SRG. Goldman Sachs Group Inc. grew its stake in Seritage Growth Properties by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 41,711 shares in the last quarter. XTX Topco Ltd grew its stake in Seritage Growth Properties by 309.3% during the 2nd quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 47,259 shares in the last quarter. Invesco Ltd. acquired a new stake in Seritage Growth Properties during the 2nd quarter valued at approximately $60,000. Marshall Wace LLP grew its stake in Seritage Growth Properties by 135.7% during the 2nd quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock valued at $1,343,000 after purchasing an additional 250,989 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Seritage Growth Properties by 309.0% during the 2nd quarter. Jane Street Group LLC now owns 58,430 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 44,144 shares in the last quarter. Institutional investors and hedge funds 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.