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

Seritage Growth Properties (NYSE:SRG)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.63 and traded as high as $2.85. Seritage Growth Properties shares last traded at $2.8150, with a volume of 314,770 shares traded.

Wall Street Analysts Forecast Growth

SRG has been the subject of several analyst reports. Wall Street Zen downgraded Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Seritage Growth Properties Price Performance

The company has a market cap of $156.88 million, a price-to-earnings ratio of -1.93 and a beta of 2.21. The company has a current ratio of 18.47, a quick ratio of 18.47 and a debt-to-equity ratio of 0.16. The company’s 50 day moving average price is $2.63 and its 200 day moving average price is $3.06.

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

Institutional Trading of Seritage Growth Properties

Several hedge funds have recently made changes to their positions in SRG. Creek Drive Management Group LLC acquired a new stake in shares of Seritage Growth Properties in the 4th quarter worth $1,421,000. Clutterbuck Capital Management LLC acquired a new stake in shares of Seritage Growth Properties in the 4th quarter worth $1,343,000. Marshall Wace LLP lifted its stake in shares of Seritage Growth Properties by 135.7% in the 2nd quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 250,989 shares during the period. Towerview LLC lifted its stake in shares of Seritage Growth Properties by 28.8% in the 1st quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 230,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Seritage Growth Properties by 376.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 270,978 shares of the financial services provider’s stock worth $881,000 after acquiring an additional 214,069 shares during the period. Institutional investors and hedge funds 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.