Seritage Growth Properties (NYSE:SRG) Share Price Passes Above 50 Day Moving Average – Here’s What Happened

Seritage Growth Properties (NYSE:SRG) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Analyst Ratings Changes

SRG has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Seritage Growth Properties from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Seritage Growth Properties in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Seritage Growth Properties has an average rating of “Sell”.

Seritage Growth Properties Stock Performance

The firm’s 50 day simple moving average is $4.11 and its 200 day simple moving average is $3.44. The firm has a market capitalization 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 quick ratio of 11.03 and a current ratio of 11.03.

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

Institutional Trading of Seritage Growth Properties

Hedge funds have recently modified their holdings of the stock. Levin Capital Strategies L.P. acquired a new stake in Seritage Growth Properties during the third quarter worth about $42,000. Invesco Ltd. purchased a new stake in Seritage Growth Properties in the 2nd quarter worth approximately $60,000. Brevan Howard Capital Management LP boosted its position in Seritage Growth Properties by 89.2% in the 2nd quarter. Brevan Howard Capital Management LP now owns 20,867 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 9,839 shares in the last quarter. Beverly Hills Private Wealth LLC acquired a new stake in shares of Seritage Growth Properties during the 3rd quarter worth approximately $72,000. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of Seritage Growth Properties during the 3rd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.

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.