Seritage Growth Properties (NYSE:SRG) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Seritage Growth Properties (NYSE:SRG) from a hold rating to a sell rating in a report published on Saturday morning.

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

Seritage Growth Properties Stock Up 2.2%

Seritage Growth Properties stock opened at $2.59 on Friday. The stock has a market capitalization of $145.61 million, a PE ratio of -1.99 and a beta of 2.41. Seritage Growth Properties has a twelve month low of $2.49 and a twelve month high of $4.56. The company has a quick ratio of 16.70, a current ratio of 16.70 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average of $2.91 and a 200-day moving average of $3.45.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported ($0.11) earnings per share for the quarter. The company had revenue of $4.17 million during the quarter. Seritage Growth Properties had a negative net margin of 374.73% and a negative return on equity of 19.39%.

Institutional Trading of Seritage Growth Properties

A number of institutional investors have recently made changes to their positions in SRG. Barclays PLC lifted its position in shares of Seritage Growth Properties by 307.7% in the fourth quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 5,717 shares in the last quarter. CIBC Asset Management Inc bought a new stake in shares of Seritage Growth Properties in the fourth quarter worth $34,000. Levin Capital Strategies L.P. bought a new stake in shares of Seritage Growth Properties in the third quarter worth $42,000. Invesco Ltd. bought a new stake in shares of Seritage Growth Properties in the second quarter worth $60,000. Finally, Bank of America Corp DE lifted its position in shares of Seritage Growth Properties by 725.6% in the third quarter. Bank of America Corp DE now owns 14,629 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 12,857 shares in the last quarter. Institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

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.