Seritage Growth Properties (NYSE:SRG) Share Price Crosses Above 50-Day Moving Average of $4.58

Seritage Growth Properties (NYSE:SRG)’s stock price 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 trading hands.

Seritage Growth Properties Stock Performance

The company’s 50-day simple moving average is $4.58 and its 200 day simple moving average is $6.15. The stock has a market cap of $255.98 million, a P/E ratio of -2.18 and a beta of 2.57. The company has a current ratio of 7.95, a quick ratio of 7.95 and a debt-to-equity ratio of 0.63.

Seritage Growth Properties (NYSE:SRG) last issued its quarterly earnings results 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%.

Hedge Funds Weigh In On Seritage Growth Properties

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its stake in Seritage Growth Properties by 5.9% in the second quarter. Sei Investments Co. now owns 48,148 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 2,700 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in Seritage Growth Properties by 1.2% during the first quarter. Gamco Investors INC. ET AL now owns 258,623 shares of the financial services provider’s stock valued at $2,496,000 after purchasing an additional 3,050 shares during the period. American Century Companies Inc. increased its position in Seritage Growth Properties by 11.5% in the second quarter. American Century Companies Inc. now owns 53,468 shares of the financial services provider’s stock worth $250,000 after buying an additional 5,519 shares during the last quarter. JBF Capital Inc. increased its position in Seritage Growth Properties by 20.0% in the second quarter. JBF Capital Inc. now owns 60,000 shares of the financial services provider’s stock worth $280,000 after buying an additional 10,000 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Seritage Growth Properties in the second quarter valued at $48,000. Institutional investors own 78.93% of the company’s stock.

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.