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

Seritage Growth Properties (NYSE:SRG) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings lowered shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties currently has an average rating of “Sell”.

Seritage Growth Properties Price Performance

SRG opened at $2.67 on Friday. The stock has a fifty day simple moving average of $2.62 and a two-hundred day simple moving average of $2.92. The company has a current ratio of 18.47, a quick ratio of 18.47 and a debt-to-equity ratio of 0.16. The company has a market cap of $150.12 million, a price-to-earnings ratio of -1.85 and a beta of 2.19. Seritage Growth Properties has a 12-month low of $2.31 and a 12-month high of $4.56.

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

Institutional Trading of Seritage Growth Properties

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC raised 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 valued at $25,000 after buying an additional 5,717 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Seritage Growth Properties in the fourth quarter worth $34,000. Invesco Ltd. purchased a new stake in shares of Seritage Growth Properties in the second quarter worth $60,000. Bank of America Corp DE increased its holdings in shares of 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 valued at $62,000 after acquiring an additional 12,857 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its holdings in shares of Seritage Growth Properties by 89.2% during the second quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 9,839 shares in the last quarter. Hedge funds and other 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.