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

Seritage Growth Properties (NYSE:SRG)’s stock price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $3.31 and traded as low as $2.99. Seritage Growth Properties shares last traded at $3.00, with a volume of 116,748 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seritage Growth Properties in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Down 1.3%

The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $168.99 million, a P/E ratio of -2.11 and a beta of 2.44. The firm’s 50 day moving average price is $3.31 and its two-hundred day moving average price is $3.65.

Institutional Investors Weigh In On Seritage Growth Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRG. Goldman Sachs Group Inc. boosted its stake in shares of Seritage Growth Properties by 15.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 303,328 shares of the financial services provider’s stock worth $980,000 after buying an additional 41,711 shares during the last quarter. XTX Topco Ltd increased its position in shares of Seritage Growth Properties by 309.3% in the second quarter. XTX Topco Ltd now owns 62,539 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 47,259 shares during the last quarter. Worth Venture Partners LLC raised its holdings in Seritage Growth Properties by 19.8% during the second quarter. Worth Venture Partners LLC now owns 77,500 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 12,800 shares in the last quarter. Invesco Ltd. acquired a new position in Seritage Growth Properties during the second quarter valued at approximately $60,000. Finally, Marshall Wace LLP boosted its position in Seritage Growth Properties by 135.7% during the second quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock valued at $1,343,000 after purchasing an additional 250,989 shares during the last quarter. 78.93% of the stock is currently owned by institutional investors and hedge funds.

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.