StockNews.com Upgrades Seritage Growth Properties (NYSE:SRG) to Sell

Seritage Growth Properties (NYSE:SRG) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report issued on Thursday.

Seritage Growth Properties Stock Up 1.7 %

Seritage Growth Properties stock traded up $0.07 during mid-day trading on Thursday, hitting $4.23. 257,682 shares of the company’s stock were exchanged, compared to its average volume of 426,036. Seritage Growth Properties has a 1-year low of $3.63 and a 1-year high of $9.87. The stock has a 50 day moving average of $4.49 and a two-hundred day moving average of $5.61. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.63. The stock has a market cap of $237.99 million, a P/E ratio of -2.02 and a beta of 2.57.

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

Hedge Funds Weigh In On Seritage Growth Properties

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Seritage Growth Properties by 0.6% in 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 buying an additional 22,441 shares during the last quarter. American Century Companies Inc. boosted its holdings in 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 acquiring an additional 5,519 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Seritage Growth Properties in the second quarter valued at about $48,000. nVerses Capital LLC acquired a new stake in shares of Seritage Growth Properties in the third quarter valued at about $30,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Seritage Growth Properties by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 258,623 shares of the financial services provider’s stock worth $2,496,000 after purchasing an additional 3,050 shares during the period. Institutional investors own 78.93% of the company’s stock.

Seritage Growth Properties Company Profile

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.