Seritage Growth Properties (NYSE:SRG) Downgraded by ValuEngine

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ValuEngine cut shares of Seritage Growth Properties (NYSE:SRG) from a buy rating to a hold rating in a report released on Friday, ValuEngine reports.

NYSE:SRG opened at $40.07 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 7.62 and a quick ratio of 7.62. Seritage Growth Properties has a 52 week low of $30.60 and a 52 week high of $51.89.

Seritage Growth Properties (NYSE:SRG) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported ($0.23) EPS for the quarter. Seritage Growth Properties had a negative return on equity of 7.53% and a negative net margin of 44.31%. The firm had revenue of $43.86 million for the quarter.

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new position in Seritage Growth Properties during the first quarter worth $74,000. Pearl River Capital LLC increased its position in shares of Seritage Growth Properties by 453.5% during the first quarter. Pearl River Capital LLC now owns 2,524 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,068 shares during the period. Coastal Investment Advisors Inc. purchased a new stake in shares of Seritage Growth Properties during the first quarter worth $197,000. First Allied Advisory Services Inc. purchased a new stake in shares of Seritage Growth Properties during the first quarter worth $219,000. Finally, Toronto Dominion Bank purchased a new stake in shares of Seritage Growth Properties during the first quarter worth $222,000.

About Seritage Growth Properties

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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