Seritage Growth Properties (NYSE:SRG) Share Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• Seritage Growth Properties shares fell below their 50-day moving average, trading as low as $1.57 versus the $1.93 average, with the latest trade at $1.5750.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell,” while Wall Street Zen raised its view to “hold”; overall, MarketBeat reports an average “Sell” rating.
• The company reported a quarterly loss of $0.13 per share on $1.87 million in revenue, alongside a negative net margin of 419.02%; institutional investors owned 78.93% of the stock and several hedge funds increased their stakes.

Seritage Growth Properties (NYSE:SRG - Get Free Report)'s share price crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $1.93 and traded as low as $1.57. Seritage Growth Properties shares last traded at $1.5750, with a volume of 98,357 shares changing hands.

Wall Street Analyst Weigh In

SRG has been the topic of several research reports. Weiss Ratings downgraded shares of Seritage Growth Properties from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, September 2nd. Wall Street Zen raised shares of Seritage Growth Properties from a "strong sell" rating to a "hold" rating in a report on Sunday, August 23rd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Seritage Growth Properties Price Performance

The firm has a market cap of $88.72 million, a P/E ratio of -1.51 and a beta of 2.24. The company has a debt-to-equity ratio of 0.17, a current ratio of 18.98 and a quick ratio of 18.98. The company's 50-day moving average is $1.93 and its two-hundred day moving average is $2.36.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last released its earnings results on Friday, August 14th. The financial services provider reported ($0.13) EPS for the quarter. The firm had revenue of $1.87 million during the quarter. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Newtyn Management LLC lifted its stake in Seritage Growth Properties by 5,411.3% during the second quarter. Newtyn Management LLC now owns 2,266,230 shares of the financial services provider's stock worth $5,960,000 after purchasing an additional 2,225,110 shares during the last quarter. Cygnus Capital Advisors LLC boosted its holdings in shares of 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 purchasing an additional 409,911 shares in the last quarter. Towerview LLC increased its stake in shares of Seritage Growth Properties by 28.7% in the 1st quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider's stock valued at $2,894,000 after purchasing an additional 230,000 shares during the last quarter. Ancora Advisors LLC increased its stake in shares of Seritage Growth Properties by 27.0% in the 2nd quarter. Ancora Advisors LLC now owns 262,887 shares of the financial services provider's stock valued at $691,000 after purchasing an additional 55,888 shares during the last quarter. Finally, Squarepoint Ops LLC raised 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 worth $601,000 after buying an additional 170,837 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

About Seritage Growth Properties

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.

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