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

Shares of Seritage Growth Properties (NYSE:SRG) crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $1.93 and traded as low as $1.57. Seritage Growth Properties shares last traded at $1.5750, with a volume of 98,357 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings lowered shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Wall Street Zen raised shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 23rd. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Seritage Growth Properties Stock Performance

The stock has a 50 day moving average of $1.92 and a 200 day moving average of $2.35. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $92.66 million, a price-to-earnings ratio of -1.58 and a beta of 2.24.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Friday, August 14th. The financial services provider reported ($0.13) EPS for the quarter. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%. The company had revenue of $1.87 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Newtyn Management LLC boosted its position in shares of Seritage Growth Properties by 5,411.3% during the 2nd quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider’s stock valued at $5,960,000 after purchasing an additional 2,225,110 shares in the last quarter. Cygnus Capital Advisors LLC grew its stake in Seritage Growth Properties by 48.1% during the second quarter. Cygnus Capital Advisors LLC now owns 1,261,358 shares of the financial services provider’s stock worth $3,318,000 after purchasing an additional 409,911 shares during the period. Towerview LLC increased its holdings in Seritage Growth Properties by 28.7% 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. Ancora Advisors LLC increased its holdings in Seritage Growth Properties by 27.0% in the second quarter. Ancora Advisors LLC now owns 262,887 shares of the financial services provider’s stock worth $691,000 after purchasing an additional 55,888 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Seritage Growth Properties by 295.4% in the second quarter. Squarepoint Ops LLC now owns 228,663 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 170,837 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

About Seritage Growth Properties

Seritage Growth Properties (NYSE: SRG) is a real estate investment trust focused on owning, leasing and redeveloping retail and mixed-use properties. The company’s portfolio has primarily consisted of former Sears and Kmart locations, many of which are being repositioned for new retail, office, residential, entertainment, hospitality and other commercial uses.

Seritage generally creates value by improving underutilized properties, adding new tenants and developing portions of its sites for alternative uses.