Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Seritage Growth Properties (NYSE:SRG)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.88 and traded as low as $2.81. Seritage Growth Properties shares last traded at $2.83, with a volume of 167,803 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Seritage Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

Seritage Growth Properties Stock Down 0.4%

The stock has a market cap of $159.40 million, a PE ratio of -1.11 and a beta of 2.38. The company has a current ratio of 8.10, a quick ratio of 8.10 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average price of $2.88 and a 200-day moving average price of $3.55.

Seritage Growth Properties (NYSE:SRG) last announced its earnings results on Thursday, May 15th. The financial services provider reported ($0.42) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative net margin of 618.09% and a negative return on equity of 10.60%. The business had revenue of $4.60 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new position in Seritage Growth Properties in the 4th quarter valued at $49,000. XTX Topco Ltd acquired a new stake in shares of Seritage Growth Properties in the 4th quarter worth $60,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Seritage Growth Properties in the 4th quarter worth $145,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Seritage Growth Properties in the 1st quarter worth $127,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Seritage Growth Properties in the 4th quarter worth $223,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.

About Seritage Growth Properties

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.