Seritage Growth Properties (NYSE:SRG) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Seritage Growth Properties (NYSE:SRG) from a hold rating to a sell rating in a report issued on Saturday morning.

Seritage Growth Properties Price Performance

Shares of SRG opened at $2.85 on Friday. Seritage Growth Properties has a 52-week low of $2.43 and a 52-week high of $4.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 10.67 and a current ratio of 10.67. The business’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $3.15. The firm has a market cap of $160.32 million, a PE ratio of -0.99 and a beta of 2.48.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results on Thursday, May 15th. The financial services provider reported ($0.42) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative net margin of 953.02% and a negative return on equity of 17.07%. The business had revenue of $4.60 million during the quarter.

Hedge Funds Weigh In On Seritage Growth Properties

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in 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 valued at $980,000 after purchasing an additional 41,711 shares in the last quarter. Alpine Global Management LLC increased its stake in Seritage Growth Properties by 12.5% during the 1st quarter. Alpine Global Management LLC now owns 225,000 shares of the financial services provider’s stock valued at $727,000 after purchasing an additional 25,000 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Seritage Growth Properties during the 1st quarter valued at $127,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Seritage Growth Properties by 51.1% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 686,994 shares of the financial services provider’s stock valued at $2,219,000 after purchasing an additional 232,382 shares in the last quarter. Finally, Groupe la Francaise bought a new stake in Seritage Growth Properties during the 1st quarter valued at $2,002,000. 78.93% of the stock is currently owned by institutional investors.

Seritage Growth Properties Company Profile

Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations.