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

Key Points

• Wall Street Zen upgraded Seritage Growth Properties from a "sell" to a "hold" in a report issued Saturday.
• Shares rose roughly 4.7%, opened at $2.70, and the company has a market cap of about $152 million with a 1‑year range of $2.43–$4.56, a negative PE (-2.08) and a beta of 2.24.
• The firm reported quarterly EPS of ($0.11) with negative ROE (19.39%) and a deeply negative net margin (374.73%); institutional investors own about 78.93% of the stock and several institutions (including Barclays and Bank of America) recently increased or initiated positions.

Seritage Growth Properties (NYSE:SRG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Seritage Growth Properties Trading Up 4.7%

Shares of SRG stock opened at $2.70 on Friday. The business's fifty day moving average price is $2.76 and its 200 day moving average price is $3.30. Seritage Growth Properties has a 1-year low of $2.43 and a 1-year high of $4.56. The firm has a market capitalization of $152.09 million, a PE ratio of -2.08 and a beta of 2.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 16.70 and a quick ratio of 16.70.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its holdings 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 acquiring an additional 5,717 shares during the period. Levin Capital Strategies L.P. acquired a new position in Seritage Growth Properties during the third quarter worth $42,000. CIBC Asset Management Inc acquired a new position in Seritage Growth Properties during the fourth quarter worth $34,000. Bank of America Corp DE boosted its position in Seritage Growth Properties by 725.6% during the third quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider's stock worth $62,000 after purchasing an additional 12,857 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Seritage Growth Properties in the third quarter valued at $72,000. Institutional investors and hedge funds 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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