Wall Street Zen Downgrades Seritage Growth Properties (NYSE:SRG) to Strong Sell

Key Points

• Wall Street Zen downgraded Seritage Growth Properties from “sell” to “strong sell,” while Weiss Ratings also lowered its assessment; MarketBeat reports a consensus “Sell” rating.
• SRG shares opened at $2.29, near their 12-month low of $2.25, with a market capitalization of approximately $128.7 million.
• The company reported a quarterly loss of $0.13 per share, alongside a negative 23.03% return on equity and a negative 487.58% net margin; institutional investors own 78.93% of the stock.

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

Separately, Weiss Ratings lowered Seritage Growth Properties from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".

Seritage Growth Properties Stock Performance

NYSE SRG opened at $2.29 on Friday. The company has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $2.72. Seritage Growth Properties has a 12-month low of $2.25 and a 12-month high of $4.56. The firm has a market cap of $128.71 million, a price-to-earnings ratio of -1.59 and a beta of 2.21. The company has a quick ratio of 18.47, a current ratio of 18.47 and a debt-to-equity ratio of 0.16.

Seritage Growth Properties (NYSE:SRG - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The financial services provider reported ($0.13) EPS for the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.

Institutional Investors Weigh In On Seritage Growth Properties

Large investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC increased its position in shares of 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 acquiring an additional 4,050 shares during the period. Barclays PLC raised its stake in shares of Seritage Growth Properties by 307.7% during 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. Ancora Advisors LLC boosted its holdings in shares of Seritage Growth Properties by 5.3% during the third quarter. Ancora Advisors LLC now owns 143,965 shares of the financial services provider's stock worth $612,000 after purchasing an additional 7,263 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Seritage Growth Properties by 21.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 40,618 shares of the financial services provider's stock worth $132,000 after purchasing an additional 7,271 shares during the period. Finally, Boothbay Fund Management LLC grew its stake in shares of 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 worth $1,040,000 after purchasing an additional 7,903 shares during the last quarter. 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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