Seritage Growth Properties (NYSE:SRG) Shares Pass Below 50-Day Moving Average of $9.40

Seritage Growth Properties (NYSE:SRG) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.40 and traded as low as $9.30. Seritage Growth Properties shares last traded at $9.44, with a volume of 214,738 shares traded.

Seritage Growth Properties Trading Down 1.3 %

The company has a current ratio of 6.76, a quick ratio of 6.76 and a debt-to-equity ratio of 0.64. The stock has a market cap of $524.34 million, a P/E ratio of -3.26 and a beta of 2.64. The firm’s 50-day simple moving average is $9.40 and its 200 day simple moving average is $9.05.

Seritage Growth Properties (NYSE:SRG) last posted its quarterly earnings data on Monday, April 1st. The financial services provider reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $9.17 million during the quarter. Seritage Growth Properties had a negative net margin of 745.48% and a negative return on equity of 8.61%.

Insider Activity

In other news, major shareholder Edward S. Lampert sold 45,654 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.60, for a total value of $438,278.40. Following the completion of the transaction, the insider now directly owns 13,536,958 shares in the company, valued at $129,954,796.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Edward S. Lampert sold 45,654 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.60, for a total transaction of $438,278.40. Following the completion of the sale, the insider now directly owns 13,536,958 shares of the company’s stock, valued at $129,954,796.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Edward S. Lampert sold 6,447 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $9.61, for a total transaction of $61,955.67. Following the sale, the insider now directly owns 13,509,817 shares of the company’s stock, valued at $129,829,341.37. The disclosure for this sale can be found here. Insiders sold 214,007 shares of company stock worth $2,069,537 over the last three months. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Seritage Growth Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRG. Bank of New York Mellon Corp lifted its position in shares of Seritage Growth Properties by 20.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,434 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 4,188 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Seritage Growth Properties by 500.0% in the 4th quarter. FNY Investment Advisers LLC now owns 6,000 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 5,000 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Seritage Growth Properties by 11.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 54,000 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 5,496 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Seritage Growth Properties by 2.5% in the 3rd quarter. Gamco Investors INC. ET AL now owns 245,023 shares of the financial services provider’s stock valued at $1,896,000 after acquiring an additional 6,050 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Seritage Growth Properties by 49.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,868 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 8,932 shares in the last quarter. 78.93% of the stock is owned by institutional investors and hedge funds.

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.