Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.63 and traded as high as $2.73. Seritage Growth Properties shares last traded at $2.6650, with a volume of 99,786 shares.

Wall Street Analyst Weigh In

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

Seritage Growth Properties Stock Down 1.7%

The firm’s 50 day moving average is $2.63 and its two-hundred day moving average is $3.02. The firm has a market cap of $150.12 million, a P/E ratio of -1.85 and a beta of 2.21. The company has a current ratio of 18.47, a quick ratio of 18.47 and a debt-to-equity ratio of 0.16.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings data 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 firm had revenue of $2.05 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its stake in Seritage Growth Properties by 0.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 4,621,280 shares of the financial services provider’s stock worth $19,640,000 after acquiring an additional 22,060 shares during the last quarter. K2 Principal Fund L.P. lifted its stake in Seritage Growth Properties by 5.6% in the fourth quarter. K2 Principal Fund L.P. now owns 1,056,400 shares of the financial services provider’s stock valued at $3,433,000 after buying an additional 56,400 shares in the last quarter. Towerview LLC lifted its stake 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 valued at $2,894,000 after buying an additional 230,000 shares in the last quarter. Yakira Capital Management Inc. lifted its stake in Seritage Growth Properties by 20.9% in the fourth quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock valued at $3,240,000 after buying an additional 172,201 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in 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 buying an additional 4,050 shares in 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.