Seritage Growth Properties (NYSE:SRG) Downgraded by Wall Street Zen 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 stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Seritage Growth Properties Price Performance

NYSE:SRG traded up $0.03 during trading hours on Friday, hitting $2.93. 106,417 shares of the stock were exchanged, compared to its average volume of 175,917. Seritage Growth Properties has a 52-week low of $2.43 and a 52-week high of $4.84. The firm's fifty day moving average price is $3.06 and its 200 day moving average price is $3.15. The company has a current ratio of 10.67, a quick ratio of 10.67 and a debt-to-equity ratio of 0.63. The company has a market cap of $164.77 million, a P/E ratio of -1.01 and a beta of 2.48.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last released its 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 return on equity of 17.07% and a negative net margin of 953.02%. The business had revenue of $4.60 million during the quarter.

Institutional Trading of Seritage Growth Properties

Several hedge funds have recently made changes to their positions in the company. Worth Venture Partners LLC grew its stake in shares of Seritage Growth Properties by 19.8% in the 2nd quarter. Worth Venture Partners LLC now owns 77,500 shares of the financial services provider's stock valued at $239,000 after buying an additional 12,800 shares during the period. XTX Topco Ltd grew its stake in shares of Seritage Growth Properties by 309.3% in the 2nd quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider's stock valued at $193,000 after buying an additional 47,259 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Seritage Growth Properties by 15.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider's stock valued at $980,000 after buying an additional 41,711 shares during the period. Alpine Global Management LLC grew its stake in shares of Seritage Growth Properties by 12.5% in the 1st quarter. Alpine Global Management LLC now owns 225,000 shares of the financial services provider's stock valued at $727,000 after buying an additional 25,000 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Seritage Growth Properties in the 1st quarter valued at approximately $127,000. Hedge funds and other institutional investors own 78.93% of the company's stock.

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.