Seritage Growth Properties (NYSE:SRG) Trading 4.4% Higher

Seritage Growth Properties (NYSE:SRG)’s share price traded up 4.4% on Friday . The company traded as high as $9.04 and last traded at $9.02. 259,981 shares changed hands during trading, a decline of 44% from the average session volume of 460,188 shares. The stock had previously closed at $8.64.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Seritage Growth Properties to a “sell” rating in a research report on Monday, October 30th.

Seritage Growth Properties Stock Performance

The company’s 50-day moving average price is $7.58 and its two-hundred day moving average price is $8.06. The company has a debt-to-equity ratio of 0.71, a quick ratio of 7.96 and a current ratio of 5.86. The stock has a market cap of $506.18 million, a PE ratio of -7.04 and a beta of 2.61.

Seritage Growth Properties (NYSE:SRG) last issued its earnings results on Wednesday, November 8th. The financial services provider reported ($0.04) EPS for the quarter. The business had revenue of $5.05 million during the quarter. Seritage Growth Properties had a positive return on equity of 6.13% and a negative net margin of 191.41%.

Institutional Investors Weigh In On Seritage Growth Properties

A number of large investors have recently modified their holdings of SRG. Gabelli Funds LLC lifted its position in Seritage Growth Properties by 1.5% during the 3rd quarter. Gabelli Funds LLC now owns 818,255 shares of the financial services provider’s stock valued at $6,333,000 after acquiring an additional 12,300 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Seritage Growth Properties by 19.2% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 636,053 shares of the financial services provider’s stock valued at $4,923,000 after acquiring an additional 102,553 shares during the period. Gamco Investors INC. ET AL lifted its position in Seritage Growth Properties by 2.5% during the 3rd quarter. Gamco Investors INC. ET AL now owns 245,023 shares of the financial services provider’s stock valued at $1,896,000 after acquiring an additional 6,050 shares during the period. Towerview LLC lifted its position in Seritage Growth Properties by 1.5% during the 3rd quarter. Towerview LLC now owns 680,000 shares of the financial services provider’s stock valued at $5,263,000 after acquiring an additional 10,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Seritage Growth Properties by 20.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,434 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 4,188 shares during the period. Institutional investors own 41.96% of the company’s stock.

Seritage Growth Properties Company Profile

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of June 30, 2023, the Company's portfolio consisted of interests in 50 properties comprised of approximately 6.8 million square feet of gross leasable area (GLA) or build-to-suit leased area, approximately 157 acres held for or under development and approximately 3.6 million square feet or approximately 303 acres to be disposed of.