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

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

Seritage Growth Properties Stock Down 1.8 %

SRG stock opened at $8.94 on Monday. The stock’s fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $8.10. The company has a current ratio of 5.86, a quick ratio of 5.86 and a debt-to-equity ratio of 0.71. Seritage Growth Properties has a 1-year low of $7.07 and a 1-year high of $12.79. The stock has a market cap of $502.25 million, a P/E ratio of -6.98 and a beta of 2.61.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported ($0.04) earnings per share for the quarter. Seritage Growth Properties had a positive return on equity of 6.13% and a negative net margin of 191.41%. The business had revenue of $5.05 million during the quarter.

Insider Activity

In other news, major shareholder Edward S. Lampert sold 58,932 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $9.20, for a total transaction of $542,174.40. Following the transaction, the insider now owns 15,020,606 shares of the company’s stock, valued at approximately $138,189,575.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company’s stock.

Institutional Trading of Seritage Growth Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in SRG. Tower Research Capital LLC TRC bought a new stake in shares of Seritage Growth Properties during the 1st quarter valued at $56,000. Ensign Peak Advisors Inc bought a new stake in shares of Seritage Growth Properties during the 3rd quarter valued at $60,000. Barclays PLC bought a new stake in shares of Seritage Growth Properties during the 2nd quarter valued at $63,000. Point72 Hong Kong Ltd bought a new stake in shares of Seritage Growth Properties during the 2nd quarter valued at $68,000. Finally, Fiduciary Alliance LLC bought a new stake in shares of Seritage Growth Properties during the 2nd quarter valued at $79,000. 41.96% of the stock is currently owned by institutional investors.

Seritage Growth Properties Company Profile

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of June 30, 2023, the Company's portfolio consisted of interests in 50 properties comprised of approximately 6.8 million square feet of gross leasable area (GLA) or build-to-suit leased area, approximately 157 acres held for or under development and approximately 3.6 million square feet or approximately 303 acres to be disposed of.