Seritage Growth Properties (NYSE:SRG) Shares Pass Below 50-Day Moving Average – What’s Next?

Seritage Growth Properties (NYSE:SRG) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.12 and traded as low as $2.75. Seritage Growth Properties shares last traded at $2.7540, with a volume of 216,060 shares changing hands.

Wall Street Analysts Forecast Growth

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

Seritage Growth Properties Price Performance

The firm has a fifty day moving average of $3.12 and a 200 day moving average of $3.58. The company has a market capitalization of $155.13 million, a P/E ratio of -1.94 and a beta of 2.43. The company has a current ratio of 10.13, a quick ratio of 10.13 and a debt-to-equity ratio of 0.58.

Institutional Trading of Seritage Growth Properties

Large investors have recently made changes to their positions in the stock. Creek Drive Management Group LLC purchased a new position in shares of Seritage Growth Properties during the fourth quarter valued at approximately $1,421,000. XTX Topco Ltd purchased a new stake in Seritage Growth Properties in the fourth quarter worth approximately $87,000. Boothbay Fund Management LLC boosted its holdings in Seritage Growth Properties by 2.5% in the fourth quarter. Boothbay Fund Management LLC now owns 320,014 shares of the financial services provider’s stock worth $1,040,000 after purchasing an additional 7,903 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Seritage Growth Properties in the 4th quarter worth approximately $118,000. Finally, Yakira Capital Management Inc. grew its position in Seritage Growth Properties by 20.9% in the 4th quarter. Yakira Capital Management Inc. now owns 996,854 shares of the financial services provider’s stock worth $3,240,000 after purchasing an additional 172,201 shares during the period. 78.93% of the stock is currently owned by institutional investors.

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.