Seritage Growth Properties (NYSE:SRG) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Seritage Growth Properties (NYSE:SRG)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $3.31 and traded as low as $2.99. Seritage Growth Properties shares last traded at $3.00, with a volume of 116,748 shares.

Analysts Set New Price Targets

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

Seritage Growth Properties Trading Down 1.3%

The company has a market capitalization of $168.99 million, a P/E ratio of -2.11 and a beta of 2.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 10.13 and a quick ratio of 10.13. The business’s 50-day moving average price is $3.31 and its two-hundred day moving average price is $3.65.

Institutional Investors Weigh In On Seritage Growth Properties

Several large investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Seritage Growth Properties by 307.7% during the 4th quarter. Barclays PLC now owns 7,575 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 5,717 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Seritage Growth Properties during the 4th quarter worth approximately $34,000. Levin Capital Strategies L.P. bought a new position in Seritage Growth Properties in the third quarter valued at approximately $42,000. Invesco Ltd. bought a new position in Seritage Growth Properties in the second quarter valued at approximately $60,000. Finally, Bank of America Corp DE boosted its holdings 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 valued at $62,000 after buying an additional 12,857 shares during the period. 78.93% of the stock is currently owned by institutional investors.

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.