Seritage Growth Properties (NYSE:SRG) Stock Passes Above Fifty Day Moving Average – Here’s Why

Shares of Seritage Growth Properties (NYSE:SRG) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.11 and traded as high as $4.16. Seritage Growth Properties shares last traded at $4.1450, with a volume of 108,827 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on SRG shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Seritage Growth Properties in a report on Wednesday, November 5th. Wall Street Zen upgraded shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Seritage Growth Properties presently has a consensus rating of “Sell”.

Seritage Growth Properties Stock Up 0.9%

The firm has a 50 day moving average price of $4.11 and a 200-day moving average price of $3.44. The firm has a market cap of $233.49 million, a price-to-earnings ratio of -2.61 and a beta of 2.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 11.03 and a quick ratio of 11.03.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings data on Thursday, August 14th. The financial services provider reported ($0.53) EPS for the quarter. The firm had revenue of $4.65 million during the quarter. Seritage Growth Properties had a negative return on equity of 21.55% and a negative net margin of 497.67%.

Institutional Investors Weigh In On Seritage Growth Properties

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tabor Asset Management LP bought a new position in Seritage Growth Properties during the first quarter worth about $3,353,000. Groupe la Francaise bought a new position in Seritage Growth Properties in the first quarter valued at approximately $2,002,000. Marshall Wace LLP boosted its holdings in shares of Seritage Growth Properties by 135.7% in the 2nd quarter. Marshall Wace LLP now owns 435,984 shares of the financial services provider’s stock valued at $1,343,000 after buying an additional 250,989 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in shares of Seritage Growth Properties by 51.1% in 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 buying an additional 232,382 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Seritage Growth Properties by 45.9% in the second quarter. Ameriprise Financial Inc. now owns 279,700 shares of the financial services provider’s stock valued at $861,000 after buying an additional 88,000 shares in the last quarter. 78.93% of the stock is 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.