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

Seritage Growth Properties (NYSE:SRGGet Rating) was upgraded by research analysts at StockNews.com to a “sell” rating in a research report issued to clients and investors on Friday.

Seritage Growth Properties Stock Performance

Seritage Growth Properties stock opened at $9.47 on Friday. Seritage Growth Properties has a 12-month low of $4.90 and a 12-month high of $17.12. The company has a market capitalization of $413.20 million, a price-to-earnings ratio of -3.59 and a beta of 2.78. The company has a debt-to-equity ratio of 2.30, a current ratio of 5.92 and a quick ratio of 5.92. The firm’s fifty day moving average price is $12.33 and its 200 day moving average price is $10.44.

Seritage Growth Properties (NYSE:SRGGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The financial services provider reported ($1.76) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative return on equity of 10.05% and a negative net margin of 93.58%. The firm had revenue of $29.70 million for the quarter.

Insiders Place Their Bets

In other Seritage Growth Properties news, major shareholder Edward S. Lampert sold 65,917 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $11.82, for a total transaction of $779,138.94. Following the completion of the transaction, the insider now directly owns 16,241,397 shares of the company’s stock, valued at approximately $191,973,312.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in Seritage Growth Properties during the 1st quarter worth $57,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Seritage Growth Properties in the 2nd quarter valued at about $61,000. Point72 Hong Kong Ltd acquired a new position in shares of Seritage Growth Properties in the 2nd quarter valued at about $68,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Seritage Growth Properties by 40.4% in the 4th quarter. BNP Paribas Arbitrage SA now owns 13,424 shares of the financial services provider’s stock valued at $178,000 after buying an additional 3,860 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of Seritage Growth Properties by 162.8% in the 1st quarter. MetLife Investment Management LLC now owns 20,110 shares of the financial services provider’s stock valued at $255,000 after buying an additional 12,459 shares during the period. 67.69% of the stock is owned by institutional investors and hedge funds.

About Seritage Growth Properties

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Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 166 wholly-owned properties and 29 unconsolidated properties totaling approximately 30.4 million square feet of space across 44 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.

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