Seritage Growth Properties (NYSE:SRG) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Seritage Growth Properties (NYSE:SRG) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $4.58 and traded as high as $4.59. Seritage Growth Properties shares last traded at $4.55, with a volume of 192,258 shares traded.

Seritage Growth Properties Price Performance

The firm has a market cap of $260.48 million, a price-to-earnings ratio of -2.22 and a beta of 2.57. The company’s fifty day moving average is $4.56 and its 200 day moving average is $6.13. The company has a quick ratio of 7.95, a current ratio of 7.95 and a debt-to-equity ratio of 0.63.

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

Institutional Investors Weigh In On Seritage Growth Properties

A number of institutional investors and hedge funds have recently modified their holdings of SRG. AQR Capital Management LLC acquired a new stake in Seritage Growth Properties during the 2nd quarter valued at $48,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Seritage Growth Properties during the 2nd quarter worth about $63,000. Huber Capital Management LLC acquired a new stake in shares of Seritage Growth Properties during the 1st quarter worth about $140,000. Corsair Capital Management L.P. bought a new stake in shares of Seritage Growth Properties during the 4th quarter worth about $280,000. Finally, Sei Investments Co. grew its stake in Seritage Growth Properties by 5.9% in the 2nd quarter. Sei Investments Co. now owns 48,148 shares of the financial services provider’s stock valued at $225,000 after buying an additional 2,700 shares during the last quarter. 78.93% of the stock is owned by institutional investors.

About Seritage Growth Properties

Seritage is principally engaged in the ownership, development, redevelopment, management and leasing of retail and mixed-use properties throughout the United States. As of September 30, 2023, the Company's portfolio consisted of interests in 42 properties comprised of approximately 5.6 million square feet of gross leasable area ("GLA") or build-to-suit leased area, approximately 126 acres held for or under development and approximately 2.9 million square feet or approximately 259 acres to be disposed of.