Seritage Growth Properties (NYSE:SRG) Share Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of Seritage Growth Properties fell below its 200‑day moving average (200‑day = $3.36), trading as low as $2.52 and last at $2.5380 on volume of 114,192 (down about 3.5%).
• Analyst sentiment is negative—SRG carries an average “Sell” rating after recent downgrades, including reiteration by Weiss Ratings and a cut from Wall Street Zen.
• Fundamentals are weak: the company reported (−$0.11) EPS for the quarter, with negative ROE (−19.39%) and net margin (−374.73%), a market cap of $142.97M, and a high beta of 2.41.

Seritage Growth Properties (NYSE:SRG - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.36 and traded as low as $2.52. Seritage Growth Properties shares last traded at $2.5380, with a volume of 114,192 shares trading hands.

Analyst Upgrades and Downgrades

SRG has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Seritage Growth Properties in a report on Monday, December 29th. Wall Street Zen lowered Seritage Growth Properties from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Seritage Growth Properties Stock Down 3.5%

The company has a quick ratio of 16.70, a current ratio of 16.70 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $142.97 million, a price-to-earnings ratio of -1.95 and a beta of 2.41. The stock's fifty day moving average price is $2.83 and its 200-day moving average price is $3.36.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last announced its earnings results on Tuesday, March 31st. The financial services provider reported ($0.11) EPS for the quarter. The business had revenue of $4.17 million for the quarter. Seritage Growth Properties had a negative return on equity of 19.39% and a negative net margin of 374.73%.

Hedge Funds Weigh In On Seritage Growth Properties

A number of large investors have recently modified their holdings of SRG. Barclays PLC increased its position in shares of Seritage Growth Properties by 307.7% in the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 5,717 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Seritage Growth Properties in the fourth quarter valued at $34,000. Levin Capital Strategies L.P. acquired a new position in shares of Seritage Growth Properties during the 3rd quarter worth about $42,000. Invesco Ltd. bought a new stake in shares of Seritage Growth Properties in the 2nd quarter valued at about $60,000. Finally, Bank of America Corp DE raised its holdings in shares of Seritage Growth Properties by 725.6% in the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider's stock valued at $62,000 after purchasing an additional 12,857 shares during the period. 78.93% of the stock is currently owned by institutional investors and hedge funds.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a publicly traded real estate investment trust (REIT) formed in 2015 as a spin-off from Sears Holdings. Headquartered in New York City, the company owns and operates a diversified portfolio of retail and mixed-use properties that were previously under the Sears and Kmart banners. Since its launch, Seritage has pursued a strategy of unlocking value through active asset management, redevelopment and strategic leasing.

The company's core business activities include the acquisition and redevelopment of retail properties, negotiation of long-term lease agreements with national and regional tenants, and selective disposition of non-core assets.

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