Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Seritage Growth Properties (NYSE:SRG) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.74 and traded as low as $3.27. Seritage Growth Properties shares last traded at $3.29, with a volume of 111,069 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seritage Growth Properties in a research note on Monday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties has an average rating of “Sell”.

Seritage Growth Properties Stock Down 0.6%

The company has a quick ratio of 10.13, a current ratio of 10.13 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average price is $3.74 and its 200-day moving average price is $3.57. The stock has a market capitalization of $185.33 million, a PE ratio of -2.32 and a beta of 2.33.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Friday, November 14th. The financial services provider reported ($0.24) earnings per share for the quarter. The company had revenue of $4.79 million for the quarter. Seritage Growth Properties had a negative net margin of 404.37% and a negative return on equity of 20.13%.

Hedge Funds Weigh In On Seritage Growth Properties

A number of hedge funds have recently bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new stake in Seritage Growth Properties during the 3rd quarter valued at about $42,000. Invesco Ltd. bought a new position in shares of Seritage Growth Properties in the second quarter worth approximately $60,000. Bank of America Corp DE grew its holdings in shares of Seritage Growth Properties by 725.6% during the third quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock valued at $62,000 after buying an additional 12,857 shares during the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Seritage Growth Properties by 89.2% during the second quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock valued at $64,000 after buying an additional 9,839 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new stake in shares of Seritage Growth Properties during the third quarter valued at approximately $72,000. 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.