Seritage Growth Properties (NYSE:SRG) Raised to “Sell” at StockNews.com

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

Seritage Growth Properties Stock Up 0.5 %

Shares of NYSE:SRG opened at $4.25 on Thursday. The company has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $5.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 7.95 and a current ratio of 7.95. Seritage Growth Properties has a 52 week low of $3.63 and a 52 week high of $9.87. The company has a market capitalization of $239.12 million, a PE ratio of -2.03 and a beta of 2.57.

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

Hedge Funds Weigh In On Seritage Growth Properties

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Seritage Growth Properties by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,571,109 shares of the financial services provider’s stock valued at $34,461,000 after purchasing an additional 22,441 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Seritage Growth Properties by 11.5% during the second quarter. American Century Companies Inc. now owns 53,468 shares of the financial services provider’s stock valued at $250,000 after buying an additional 5,519 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Seritage Growth Properties in the second quarter worth approximately $48,000. nVerses Capital LLC bought a new position in Seritage Growth Properties in the third quarter worth approximately $30,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Seritage Growth Properties by 1.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 258,623 shares of the financial services provider’s stock valued at $2,496,000 after purchasing an additional 3,050 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.