Seritage Growth Properties (NYSE:SRG) Raised to "Hold" at Wall Street Zen

Key Points

• Seritage Growth Properties (NYSE:SRG) has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The company reported a negative earnings per share (EPS) of ($0.53) for the last quarter, with a revenue of $4.65 million.
• Institutional investors hold 78.93% of Seritage Growth Properties, with significant recent purchases from firms like Tabor Asset Management and Two Sigma Investments.

Seritage Growth Properties (NYSE:SRG - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Seritage Growth Properties Stock Performance

SRG opened at $3.20 on Friday. The company has a market cap of $180.26 million, a PE ratio of -2.01 and a beta of 2.48. The stock has a 50-day moving average of $3.06 and a 200-day moving average of $3.13. Seritage Growth Properties has a 52-week low of $2.43 and a 52-week high of $4.84. 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 (NYSE:SRG - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The financial services provider reported ($0.53) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative return on equity of 20.89% and a negative net margin of 497.67%. The company had revenue of $4.65 million for the quarter.

Institutional Trading of Seritage Growth Properties

Hedge funds have recently added to or reduced their stakes in the business. Tabor Asset Management LP bought a new stake in Seritage Growth Properties during the 1st quarter valued at approximately $3,353,000. Two Sigma Investments LP increased its holdings in shares of Seritage Growth Properties by 241.8% during the 4th quarter. Two Sigma Investments LP now owns 205,872 shares of the financial services provider's stock worth $848,000 after purchasing an additional 145,648 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Seritage Growth Properties by 61.0% during the 4th quarter. Ameriprise Financial Inc. now owns 258,200 shares of the financial services provider's stock worth $1,064,000 after purchasing an additional 97,800 shares during the period. Northern Trust Corp increased its holdings in shares of Seritage Growth Properties by 6.0% during the 4th quarter. Northern Trust Corp now owns 96,284 shares of the financial services provider's stock worth $397,000 after purchasing an additional 5,480 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Seritage Growth Properties during the 4th quarter worth about $850,000. Institutional investors own 78.93% of the company's stock.

About Seritage Growth Properties

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.

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