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

Seritage Growth Properties (NYSE:SRG) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.53 and traded as low as $3.53. Seritage Growth Properties shares last traded at $3.5450, with a volume of 151,896 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seritage Growth Properties in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties has an average rating of “Sell”.

Seritage Growth Properties Trading Up 0.1%

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 stock has a market capitalization of $199.69 million, a P/E ratio of -2.50 and a beta of 2.38. The company has a fifty day simple moving average of $3.53 and a two-hundred day simple moving average of $3.62.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SRG. Levin Capital Strategies L.P. bought a new stake in shares of Seritage Growth Properties during the third quarter worth $42,000. Invesco Ltd. bought a new position in Seritage Growth Properties during the 2nd quarter worth about $60,000. Bank of America Corp DE raised its stake in shares of Seritage Growth Properties by 725.6% in the 3rd quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 12,857 shares during the period. Brevan Howard Capital Management LP lifted its holdings 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 valued at $64,000 after purchasing an additional 9,839 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in shares of Seritage Growth Properties during the third quarter worth about $72,000. Institutional investors own 78.93% of the company’s stock.

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.