Seritage Growth Properties (NYSE:SRG) Upgraded at StockNews.com

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

Seritage Growth Properties Stock Performance

NYSE:SRG traded up $0.07 during trading hours on Thursday, hitting $4.23. 257,682 shares of the company traded hands, compared to its average volume of 426,036. 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 capitalization of $237.99 million, a price-to-earnings ratio of -2.02 and a beta of 2.57. The firm has a 50-day moving average of $4.49 and a 200 day moving average of $5.61. Seritage Growth Properties has a twelve month low of $3.63 and a twelve month high of $9.87.

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

Hedge Funds Weigh In On Seritage Growth Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Seritage Growth Properties in the third quarter worth about $30,000. AQR Capital Management LLC acquired a new stake in Seritage Growth Properties in the 2nd quarter valued at $48,000. Susquehanna Fundamental Investments LLC bought a new stake in Seritage Growth Properties in the second quarter valued at $63,000. Huber Capital Management LLC bought a new stake in Seritage Growth Properties in the first quarter valued at $140,000. Finally, Sei Investments Co. raised its stake in Seritage Growth Properties by 5.9% during the second quarter. Sei Investments Co. now owns 48,148 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 2,700 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

About Seritage Growth Properties

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.