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 Thursday . The stock has a 50-day moving average of $3.31 and traded as low as $2.99. Seritage Growth Properties shares last traded at $3.00, with a volume of 116,748 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seritage Growth Properties in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties presently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Down 1.5%

The stock has a market capitalization of $166.46 million, a P/E ratio of -2.08 and a beta of 2.44. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58. The firm’s fifty day moving average is $3.31 and its 200-day moving average is $3.65.

Institutional Investors Weigh In On Seritage Growth Properties

Large investors have recently bought and sold shares of the business. Gabelli Funds LLC boosted its stake in Seritage Growth Properties by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider’s stock worth $2,543,000 after purchasing an additional 4,050 shares in the last quarter. Barclays PLC lifted its position in Seritage Growth Properties by 307.7% during the 4th quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock worth $25,000 after buying an additional 5,717 shares in the last quarter. Ancora Advisors LLC grew its holdings in Seritage Growth Properties by 5.3% during the 3rd quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 7,263 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Seritage Growth Properties by 21.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 7,271 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its position in Seritage Growth Properties by 2.5% in the 4th quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider’s stock valued at $1,040,000 after acquiring an additional 7,903 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

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.