Seritage Growth Properties (NYSE:SRG) Posts Quarterly Earnings Results

Seritage Growth Properties (NYSE:SRG) issued its quarterly earnings data on Friday. The financial services provider reported $0.05 earnings per share for the quarter, Zacks reports. Seritage Growth Properties had a negative net margin of 419.02% and a negative return on equity of 17.06%. The firm had revenue of $1.63 million for the quarter.

Seritage Growth Properties Stock Performance

Shares of NYSE:SRG traded down $0.03 during mid-day trading on Friday, reaching $1.51. 58,044 shares of the company traded hands, compared to its average volume of 145,793. The company’s 50 day moving average price is $1.74 and its 200-day moving average price is $2.42. The firm has a market cap of $85.34 million, a PE ratio of -1.46 and a beta of 2.27. Seritage Growth Properties has a 52 week low of $1.50 and a 52 week high of $4.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 18.98 and a quick ratio of 18.98.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SRG. Wall Street Zen upgraded shares of Seritage Growth Properties from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings cut shares of Seritage Growth Properties from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has an average rating of “Sell”.

Seritage Growth Properties Company Profile

Seritage Growth Properties is a real estate investment trust that owns, redevelops and manages commercial properties in the United States. Its portfolio has included former Sears and Kmart locations, many of which the company has sought to reposition for new uses. The company’s redevelopment projects have included retail, residential, office, hospitality and entertainment space, as well as mixed-use properties. Seritage was formed in 2015 through a spin-off from Sears Holdings. In recent years, Seritage has focused on selling properties and advancing redevelopment efforts as it monetizes its real estate portfolio.