Seritage Growth Properties (NYSE:SRG) Shares Pass Below Fifty Day Moving Average – Should You Sell?

Shares of Seritage Growth Properties (NYSE:SRG) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.62 and traded as low as $2.54. Seritage Growth Properties shares last traded at $2.6250, with a volume of 197,560 shares traded.

Analyst Upgrades and Downgrades

SRG has been the topic of a number of recent analyst reports. Weiss Ratings cut Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Wall Street Zen lowered shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Seritage Growth Properties Price Performance

The business’s 50 day moving average is $2.62 and its two-hundred day moving average is $2.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 18.47 and a current ratio of 18.47. The firm has a market capitalization of $147.87 million, a PE ratio of -1.82 and a beta of 2.21.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.56) EPS for the quarter. The company 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 Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Seritage Growth Properties by 140.1% during the 1st quarter. Bank of America Corp DE now owns 52,025 shares of the financial services provider’s stock valued at $146,000 after buying an additional 30,358 shares in the last quarter. RBF Capital LLC purchased a new stake in shares of Seritage Growth Properties in the first quarter worth about $174,000. Towerview LLC boosted its position in shares of 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 valued at $2,894,000 after acquiring an additional 230,000 shares during the period. Creek Drive Management Group LLC bought a new position in shares of Seritage Growth Properties in the fourth quarter valued at approximately $1,421,000. Finally, XTX Topco Ltd purchased a new position in Seritage Growth Properties during the fourth quarter valued at approximately $87,000. 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.