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

Seritage Growth Properties (NYSE:SRG) shares 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 changing hands.

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

The business’s fifty day moving average is $21.13 and its 200-day moving average is $36.22. The firm has a market cap 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 issued 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 business had revenue of $36.63 million during the quarter.

Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in Seritage Growth Properties by 27.4% during the 4th quarter. Victory Capital Management Inc. now owns 4,074 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 875 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Seritage Growth Properties by 3,445.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,822 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 4,686 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in Seritage Growth Properties during the 4th quarter worth approximately $203,000. Amalgamated Bank raised its holdings in Seritage Growth Properties by 10.1% during the 4th quarter. Amalgamated Bank now owns 5,418 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 499 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Seritage Growth Properties by 4.7% during the 4th quarter. Pictet Asset Management Ltd. now owns 6,700 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 300 shares during the last quarter.

Seritage Growth Properties Company Profile (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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