Seritage Growth Properties (NYSE:SRG) Shares Cross Below 50 Day Moving Average – Should You Sell?

Seritage Growth Properties (NYSE:SRG) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.39 and traded as low as $3.05. Seritage Growth Properties shares last traded at $3.0550, with a volume of 237,788 shares traded.

Wall Street Analysts Forecast Growth

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

Seritage Growth Properties Stock Down 2.4%

The company has a debt-to-equity ratio of 0.58, a current ratio of 10.13 and a quick ratio of 10.13. The company has a market capitalization of $172.07 million, a price-to-earnings ratio of -2.15 and a beta of 2.43. The firm has a 50-day moving average price of $3.39 and a two-hundred day moving average price of $3.66.

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

Institutional Trading of Seritage Growth Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc acquired a new position in shares of Seritage Growth Properties during the 4th quarter worth approximately $34,000. Levin Capital Strategies L.P. acquired a new position in shares of Seritage Growth Properties during the 3rd quarter worth about $42,000. Invesco Ltd. bought a new stake in shares of Seritage Growth Properties in the 2nd quarter valued at about $60,000. Bank of America Corp DE lifted its stake in 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 last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in Seritage Growth Properties by 89.2% during the 2nd 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 during the last quarter. Institutional investors and hedge funds 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.