Seritage Growth Properties (NYSE:SRG) Shares Pass Above Fifty Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.63 and traded as high as $2.85. Seritage Growth Properties shares last traded at $2.8150, with a volume of 314,770 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SRG shares. Weiss Ratings downgraded Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded Seritage Growth Properties from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Performance

The stock has a fifty day moving average price of $2.63 and a two-hundred day moving average price of $3.07. The company has a market cap of $158.57 million, a P/E ratio of -1.95 and a beta of 2.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 18.47 and a quick ratio of 18.47.

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

Institutional Investors Weigh In On Seritage Growth Properties

Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings 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 buying an additional 5,717 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in Seritage Growth Properties during the third quarter worth approximately $42,000. CIBC Asset Management Inc bought a new stake in Seritage Growth Properties during the fourth quarter worth approximately $34,000. Bank of America Corp DE raised its holdings 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. bought a new stake in Seritage Growth Properties during the third quarter worth approximately $72,000. 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.