Seritage Growth Properties (NYSE:SRG) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Seritage Growth Properties (NYSE:SRG) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.88 and traded as low as $2.62. Seritage Growth Properties shares last traded at $2.6550, with a volume of 85,443 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SRG shares. Weiss Ratings lowered Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Wall Street Zen raised Seritage Growth Properties from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties presently has an average rating of “Sell”.

Seritage Growth Properties Stock Performance

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’s 50-day moving average is $2.63 and its two-hundred day moving average is $2.88. The stock has a market capitalization of $149.56 million, a P/E ratio of -1.84 and a beta of 2.19.

Seritage Growth Properties (NYSE:SRG) last posted its earnings results on Friday, May 15th. The financial services provider reported ($0.56) EPS 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 during the quarter.

Hedge Funds Weigh In On Seritage Growth Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRG. Barclays PLC increased its position in Seritage Growth Properties by 307.7% in the 4th 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 period. CIBC Asset Management Inc acquired a new position in Seritage Growth Properties during the 4th quarter worth $34,000. Bank of America Corp DE boosted its position in Seritage Growth Properties by 725.6% during the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 12,857 shares during the period. Invesco Ltd. bought a new position in shares of Seritage Growth Properties in the second quarter worth $60,000. Finally, Brevan Howard Capital Management LP grew its stake in shares of Seritage Growth Properties by 89.2% in the second quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 9,839 shares in the last quarter. 78.93% of the stock is 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.