Seritage Growth Properties (NYSE:SRG) Stock Price Passes Below Fifty Day Moving Average - Time to Sell?

Key Points

• Seritage Growth Properties shares fell below their 50-day moving average, trading as low as $1.82 versus the $2.21 average and last changing hands at $1.855.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock, while Wall Street Zen raised its view to “hold”; MarketBeat reports an overall “Sell” rating.
• The company reported a quarterly loss of $0.13 per share, a negative 419.02% net margin and negative 17.06% return on equity, despite institutional investors owning 78.93% of the stock.

Seritage Growth Properties (NYSE:SRG - Get Free Report)'s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Seritage Growth Properties from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, September 2nd. Wall Street Zen upgraded shares of Seritage Growth Properties from a "strong sell" rating to a "hold" rating in a research report on Sunday, August 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Seritage Growth Properties has an average rating of "Sell".

Seritage Growth Properties Trading Down 0.3%

The business's 50 day moving average is $2.21 and its two-hundred day moving average is $2.50. The company has a quick ratio of 18.98, a current ratio of 18.98 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $104.49 million, a P/E ratio of -1.78 and a beta of 2.19.

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

Hedge Funds Weigh In On Seritage Growth Properties

Large investors have recently made changes to their positions in the business. 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 valued at $5,960,000 after purchasing an additional 2,225,110 shares during the last quarter. Creek Drive Management Group LLC acquired a new position in Seritage Growth Properties in the fourth quarter worth approximately $1,421,000. Clutterbuck Capital Management LLC bought a new position in shares of Seritage Growth Properties in the fourth quarter valued at $1,343,000. Cygnus Capital Advisors LLC increased its holdings in shares of Seritage Growth Properties by 48.1% in the second 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. Finally, Ancora Advisors LLC acquired a new stake in shares of Seritage Growth Properties during the 2nd quarter valued at $691,000. Institutional investors own 78.93% of the company's stock.

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.

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