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

Seritage Growth Properties (NYSE:SRG) shares crossed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $2.03 and traded as low as $1.59. Seritage Growth Properties shares last traded at $1.6050, with a volume of 90,300 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on SRG. Weiss Ratings cut Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note 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 an average rating of “Sell”.

Seritage Growth Properties Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 18.98 and a current ratio of 18.98. The stock has a market capitalization of $90.41 million, a P/E ratio of -1.54 and a beta of 2.24. The business has a fifty day simple moving average of $2.03 and a 200-day simple moving average of $2.41.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings data on Friday, August 14th. The financial services provider reported ($0.13) earnings per share 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 for the quarter.

Hedge Funds Weigh In On Seritage Growth Properties

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Seritage Growth Properties by 140.1% in the 1st quarter. Bank of America Corp DE now owns 52,025 shares of the financial services provider’s stock worth $146,000 after buying an additional 30,358 shares during the last quarter. Ancora Advisors LLC grew its holdings in shares of Seritage Growth Properties by 27.0% during 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. K2 Principal Fund L.P. grew its position in Seritage Growth Properties by 5.6% in the fourth quarter. K2 Principal Fund L.P. now owns 1,056,400 shares of the financial services provider’s stock worth $3,433,000 after acquiring an additional 56,400 shares in the last quarter. RBF Capital LLC bought a new position in shares of Seritage Growth Properties during the 1st quarter valued at about $174,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Seritage Growth Properties by 295.4% during the 2nd quarter. Squarepoint Ops LLC now owns 228,663 shares of the financial services provider’s stock valued at $601,000 after purchasing an additional 170,837 shares during the last quarter. Hedge funds and other institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

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.