Seritage Growth Properties (NYSE:SRG) Shares Gap Up to $8.22

Seritage Growth Properties (NYSE:SRG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $7.94, but opened at $8.22. Seritage Growth Properties shares last traded at $9.47, with a volume of 2,148,800 shares.

Separately, ValuEngine downgraded shares of Seritage Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, March 18th.

The stock has a 50 day moving average of $21.13 and a 200-day moving average of $36.22. The firm has a market capitalization of $254.80 million, a P/E ratio of -5.38 and a beta of 2.18. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.87 and a current ratio of 5.87.

Seritage Growth Properties (NYSE:SRG) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported ($0.70) earnings per share (EPS) for the quarter. Seritage Growth Properties had a negative net margin of 35.22% and a negative return on equity of 5.47%. The firm had revenue of $36.63 million during the quarter.

Institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Seritage Growth Properties by 27.4% in the 4th quarter. Victory Capital Management Inc. now owns 4,074 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 875 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Seritage Growth Properties by 3,445.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,822 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 4,686 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Seritage Growth Properties during the fourth quarter valued at about $203,000. Amalgamated Bank increased its position in shares of Seritage Growth Properties by 10.1% during the fourth quarter. Amalgamated Bank now owns 5,418 shares of the financial services provider’s stock valued at $217,000 after buying an additional 499 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Seritage Growth Properties by 4.7% during the fourth quarter. Pictet Asset Management Ltd. now owns 6,700 shares of the financial services provider’s stock valued at $269,000 after buying an additional 300 shares during the period.

About Seritage Growth Properties (NYSE:SRG)

Seritage Growth Properties is a publicly-traded, self-administered and self-managed REIT with 206 wholly-owned properties and 26 joint venture properties totaling approximately 36.3 million square feet of space across 48 states and Puerto Rico. The Company was formed to unlock the underlying real estate value of a high-quality retail portfolio it acquired from Sears Holdings in July 2015.

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