Seritage Growth Properties (NYSE:SRG) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Shares fell below its 200‑day moving average: SRG traded as low as $2.53 and last at $2.5450, below the 200‑day MA of $3.30, on volume of about 343,800 shares.
• Analyst sentiment has turned negative: Wall Street Zen downgraded Seritage from "hold" to "sell," and MarketBeat shows a consensus rating of "Sell."
• Fundamentals remain weak: The company reported Q1 EPS of -$0.11, a negative ROE (−19.39%) and net margin (−374.73%), with a market cap of roughly $143 million and a negative P/E.

Shares of Seritage Growth Properties (NYSE:SRG - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.30 and traded as low as $2.53. Seritage Growth Properties shares last traded at $2.5450, with a volume of 343,799 shares changing hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Seritage Growth Properties from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Seritage Growth Properties Trading Down 2.5%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 16.70 and a current ratio of 16.70. The firm's fifty day simple moving average is $2.77 and its 200-day simple moving average is $3.30. The stock has a market cap of $143.36 million, a P/E ratio of -1.96 and a beta of 2.41.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its stake in Seritage Growth Properties by 0.5% in the fourth quarter. Gabelli Funds LLC now owns 782,397 shares of the financial services provider's stock valued at $2,543,000 after buying an additional 4,050 shares during the period. Barclays PLC lifted its stake in 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 buying an additional 5,717 shares during the period. Ancora Advisors LLC lifted its stake in Seritage Growth Properties by 5.3% in the third quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider's stock valued at $612,000 after buying an additional 7,263 shares during the period. Dimensional Fund Advisors LP lifted its stake in Seritage Growth Properties by 21.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider's stock valued at $132,000 after buying an additional 7,271 shares during the period. Finally, Boothbay Fund Management LLC lifted its stake in Seritage Growth Properties by 2.5% in the fourth quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider's stock valued at $1,040,000 after buying an additional 7,903 shares during the period. Institutional investors own 78.93% of the company's stock.

About Seritage Growth Properties

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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