Seritage Growth Properties (NYSE:SRG) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.12 and traded as low as $2.40. Seritage Growth Properties shares last traded at $2.4950, with a volume of 453,814 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SRG. Weiss Ratings raised shares of Seritage Growth Properties from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Seritage Growth Properties presently has an average rating of “Sell”.

Seritage Growth Properties Price Performance

The company has a quick ratio of 16.70, a current ratio of 18.47 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $140.54 million, a price-to-earnings ratio of -1.73 and a beta of 2.24. The stock’s 50 day moving average price is $2.64 and its two-hundred day moving average price is $3.12.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.56) earnings per share for the quarter. Seritage Growth Properties had a negative return on equity of 23.03% and a negative net margin of 487.58%.The company had revenue of $2.05 million during the quarter.

Institutional Investors Weigh In On Seritage Growth Properties

A number of large investors have recently bought and sold shares of SRG. Creek Drive Management Group LLC bought a new stake in Seritage Growth Properties in the fourth quarter worth $1,421,000. Clutterbuck Capital Management LLC bought a new stake in Seritage Growth Properties in the fourth quarter worth $1,343,000. Marshall Wace LLP boosted its holdings in Seritage Growth Properties by 135.7% in the second quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 250,989 shares in the last quarter. Towerview LLC boosted its holdings in Seritage Growth Properties by 28.8% in the first quarter. Towerview LLC now owns 1,030,000 shares of the financial services provider’s stock worth $2,894,000 after purchasing an additional 230,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Seritage Growth Properties by 376.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 270,978 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 214,069 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

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.