Seritage Growth Properties (NYSE:SRG) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Seritage Growth Properties (NYSE:SRG) to a sell rating in a research note released on Thursday morning.

Seritage Growth Properties Stock Performance

Shares of Seritage Growth Properties stock traded up $0.02 during trading on Thursday, hitting $4.25. 18,221 shares of the company’s stock were exchanged, compared to its average volume of 424,066. The company has a debt-to-equity ratio of 0.63, a quick ratio of 7.95 and a current ratio of 7.95. The business has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $5.61. Seritage Growth Properties has a 52-week low of $3.63 and a 52-week high of $9.87. The stock has a market capitalization of $239.12 million, a price-to-earnings ratio of -2.02 and a beta of 2.57.

Seritage Growth Properties (NYSE:SRG) last issued its earnings results on Wednesday, August 14th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative return on equity of 5.89% and a negative net margin of 485.15%. The business had revenue of $4.22 million for the quarter.

Institutional Trading of Seritage Growth Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRG. nVerses Capital LLC acquired a new stake in Seritage Growth Properties during the third quarter valued at $30,000. AQR Capital Management LLC acquired a new stake in Seritage Growth Properties during the second quarter valued at $48,000. Susquehanna Fundamental Investments LLC acquired a new stake in Seritage Growth Properties during the second quarter valued at $63,000. Huber Capital Management LLC acquired a new stake in Seritage Growth Properties during the first quarter valued at $140,000. Finally, Sei Investments Co. grew its position in Seritage Growth Properties by 5.9% during the second quarter. Sei Investments Co. now owns 48,148 shares of the financial services provider’s stock valued at $225,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 78.93% of the company’s stock.

About Seritage Growth Properties

Prior to the adoption of the Company’s Plan of Sale, Seritage was principally engaged in the ownership, development, redevelopment, management, sale and leasing of diversified retail and mixed-use properties throughout the United States. Seritage will continue to actively manage each location until such time as each property is sold.