Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Above 50 Day Moving Average of $9.37

Seritage Growth Properties (NYSE:SRG) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.37 and traded as high as $9.37. Seritage Growth Properties shares last traded at $9.31, with a volume of 350,752 shares changing hands.

Seritage Growth Properties Stock Performance

The firm has a market cap of $523.78 million, a PE ratio of -3.26 and a beta of 2.62. The firm has a 50-day moving average price of $9.37 and a two-hundred day moving average price of $9.11. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.64.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings data on Monday, April 1st. The financial services provider reported $0.04 EPS for the quarter. Seritage Growth Properties had a negative return on equity of 8.61% and a negative net margin of 745.48%. The firm had revenue of $9.17 million for the quarter.

Insider Buying and Selling

In related news, major shareholder Edward S. Lampert sold 45,654 shares of Seritage Growth Properties stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.60, for a total transaction of $438,278.40. Following the transaction, the insider now owns 13,536,958 shares in the company, valued at $129,954,796.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 45,654 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $9.60, for a total transaction of $438,278.40. Following the completion of the sale, the insider now owns 13,536,958 shares of the company’s stock, valued at $129,954,796.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Edward S. Lampert sold 25,655 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $9.76, for a total value of $250,392.80. Following the sale, the insider now directly owns 13,484,162 shares of the company’s stock, valued at approximately $131,605,421.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 214,007 shares of company stock worth $2,069,537. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Seritage Growth Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRG. FNY Investment Advisers LLC lifted its holdings in Seritage Growth Properties by 500.0% during the 4th quarter. FNY Investment Advisers LLC now owns 6,000 shares of the financial services provider’s stock worth $56,000 after buying an additional 5,000 shares during the last quarter. Covestor Ltd purchased a new stake in Seritage Growth Properties during the 3rd quarter worth about $85,000. Bank of New York Mellon Corp lifted its holdings in Seritage Growth Properties by 20.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,434 shares of the financial services provider’s stock worth $189,000 after buying an additional 4,188 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Seritage Growth Properties by 49.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,868 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 8,932 shares during the last quarter. Finally, Corsair Capital Management L.P. purchased a new stake in shares of Seritage Growth Properties in the 4th quarter valued at about $280,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

About Seritage Growth Properties

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.