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

Shares of Seritage Growth Properties (NYSE:SRG) passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $2.21 and traded as low as $1.82. Seritage Growth Properties shares last traded at $1.8550, with a volume of 125,919 shares.

Analyst Ratings Changes

SRG has been the subject of several recent research reports. Wall Street Zen raised Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a report on Sunday, August 23rd. Weiss Ratings lowered Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties has a consensus rating of “Sell”.

Seritage Growth Properties Trading Up 0.3%

The business’s 50 day moving average price is $2.19 and its 200-day moving average price is $2.49. The company has a market cap of $102.79 million, a price-to-earnings ratio of -1.75 and a beta of 2.19. The company has a debt-to-equity ratio of 0.17, a quick ratio of 18.98 and a current ratio of 18.98.

Seritage Growth Properties (NYSE:SRG) last issued its earnings results on Friday, August 14th. The financial services provider reported ($0.13) earnings per share for the quarter. The business had revenue of $1.87 million for the quarter. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%.

Institutional Investors Weigh In On Seritage Growth Properties

Several large investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its holdings in shares of Seritage Growth Properties by 295.4% in the 2nd quarter. Squarepoint Ops LLC now owns 228,663 shares of the financial services provider’s stock worth $601,000 after buying an additional 170,837 shares in the last quarter. Cygnus Capital Advisors LLC boosted its stake in Seritage Growth Properties by 48.1% in the 2nd quarter. Cygnus Capital Advisors LLC now owns 1,261,358 shares of the financial services provider’s stock valued at $3,318,000 after buying an additional 409,911 shares in the last quarter. Newtyn Management LLC grew its position in Seritage Growth Properties by 5,411.3% in the second quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider’s stock valued at $5,960,000 after acquiring an additional 2,225,110 shares during the period. Ancora Advisors LLC grew its position in Seritage Growth Properties by 27.0% in the second quarter. Ancora Advisors LLC now owns 262,887 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 55,888 shares during the period. Finally, Bank of America Corp DE raised its stake in Seritage Growth Properties by 140.1% during the first quarter. Bank of America Corp DE now owns 52,025 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 30,358 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

About Seritage Growth Properties

Seritage Growth Properties is a real estate investment trust that owns, leases and redevelops retail and mixed-use properties in the United States. The company focuses primarily on repositioning large-format commercial properties, including former Sears and Kmart locations, for new retail, office, residential, hospitality, entertainment and other uses.

Seritage was established in 2015 through the separation of a portfolio of properties from Sears Holdings Corporation. Its strategy has centered on creating value by redeveloping underutilized shopping centers and freestanding retail sites, attracting new tenants and improving the mix of uses at its properties.