Seritage Growth Properties (NYSE:SRG) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen upgraded Seritage Growth Properties from “strong sell” to “hold,” but Weiss Ratings still rates the stock “sell,” resulting in a consensus “Sell” rating from MarketBeat.
• SRG shares were trading at $2.15, up 1.9%, with a $121.1 million market capitalization and a 52-week range of $2.05 to $4.56.
• The company reported a quarterly loss of $0.13 per share on $1.87 million in revenue, alongside a negative net margin of 419.02%; institutional investors own approximately 78.93% of its stock.

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

Separately, Weiss Ratings raised shares of Seritage Growth Properties from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties has a consensus rating of "Sell".

Seritage Growth Properties Trading Up 1.9%

Shares of SRG stock opened at $2.15 on Friday. The firm has a market capitalization of $121.10 million, a P/E ratio of -2.07 and a beta of 2.21. Seritage Growth Properties has a 1 year low of $2.05 and a 1 year high of $4.56. The firm's fifty day simple moving average is $2.50 and its 200 day simple moving average is $2.68. The company has a current ratio of 18.98, a quick ratio of 18.47 and a debt-to-equity ratio of 0.17.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The financial services provider reported ($0.13) earnings per share for the quarter. The company had revenue of $1.87 million during the quarter. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%.

Institutional Trading of Seritage Growth Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Seritage Growth Properties by 307.7% during the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider's stock worth $25,000 after purchasing an additional 5,717 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Seritage Growth Properties in the 4th quarter worth approximately $34,000. Invesco Ltd. acquired a new position in shares of Seritage Growth Properties in the 2nd quarter worth approximately $60,000. Bank of America Corp DE lifted its position in shares of Seritage Growth Properties by 725.6% during the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider's stock worth $62,000 after buying an additional 12,857 shares during the period. Finally, Brevan Howard Capital Management LP lifted its position in shares of Seritage Growth Properties by 89.2% during the 2nd quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider's stock worth $64,000 after buying an additional 9,839 shares during the period. Institutional investors own 78.93% of the company's stock.

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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