Wall Street Zen Downgrades Seritage Growth Properties (NYSE:SRG) to Sell

Key Points

• Seritage Growth Properties (NYSE:SRG) has been downgraded from a "hold" rating to a "sell" rating by analysts at Wall Street Zen.
• The company's stock is currently trading at $2.89, down 0.5%, with a 12-month high of $4.84 and a low of $2.43.
• Seritage reported a negative earnings per share of ($0.42) for its last quarter, alongside a revenue of $4.60 million.

Seritage Growth Properties (NYSE:SRG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Seritage Growth Properties Price Performance

Shares of Seritage Growth Properties stock traded up $0.07 on Friday, hitting $2.92. The company's stock had a trading volume of 66,743 shares, compared to its average volume of 176,462. The company has a debt-to-equity ratio of 0.63, a quick ratio of 10.67 and a current ratio of 10.67. Seritage Growth Properties has a 1 year low of $2.43 and a 1 year high of $4.84. The firm has a fifty day moving average price of $3.05 and a 200-day moving average price of $3.15. The company has a market capitalization of $164.48 million, a price-to-earnings ratio of -1.01 and a beta of 2.48.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The financial services provider reported ($0.42) earnings per share for the quarter. Seritage Growth Properties had a negative net margin of 953.02% and a negative return on equity of 17.07%. The business had revenue of $4.60 million during the quarter.

Institutional Investors Weigh In On Seritage Growth Properties

Several large investors have recently bought and sold shares of SRG. American Century Companies Inc. increased its stake in Seritage Growth Properties by 9.8% during the 4th quarter. American Century Companies Inc. now owns 67,025 shares of the financial services provider's stock worth $276,000 after buying an additional 6,003 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Seritage Growth Properties by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 457,468 shares of the financial services provider's stock worth $1,885,000 after purchasing an additional 18,528 shares during the last quarter. FIL Ltd boosted its holdings in shares of Seritage Growth Properties by 23.8% during the 4th quarter. FIL Ltd now owns 1,903,300 shares of the financial services provider's stock worth $7,842,000 after purchasing an additional 366,108 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Seritage Growth Properties during the 4th quarter worth approximately $49,000. Finally, XTX Topco Ltd acquired a new position in shares of Seritage Growth Properties during the 4th quarter worth approximately $60,000. 78.93% of the stock is currently owned by hedge funds and other institutional investors.

Seritage Growth Properties Company Profile

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.