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How Does Seritage Growth Properties’s (NYSE: SRG) Short-Term Prospect Look Like?

Seritage Growth Properties (NYSE:SRG) traded at $10.46 at close of the session on Wednesday, September 21, made a downward move of -5.34% on its previous day’s price.

Looking at the stock we see that its previous close was $11.05 and the beta (5Y monthly) reads 2.23 with the day’s price range being $11.03 – $11.60. In terms of its 52-week price range, SRG has a high of $17.12 and a low of $4.90. The company’s stock has lost about -17.10% over that past 30 days.

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Seritage Growth Properties has a market cap of $629.08 million and is expected to release its quarterly earnings report on Apr 27, 2022 – May 02, 2022.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SRG stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of Hold.

Looking further, we note the current price level is -16.23% off its SMA20 and -15.06% from its 50-day simple moving average. The RSI (14) is pointing at 27.31 while the volatility over the past week is 4.73% and jumps to 3.72% over the past one month. The beta value is 2.79, while the average true range (ATR) is currently pointing at 0.51. The average price target for the stock over the next 12 months is $16.00, with the estimates having a low of $16.00 and a high of $16.00. These price ends are -52.96% and -52.96% off the current price level respectively, although investors could be excited at the prospect of a -52.96% if the SRG share price touches on the median price of $16.00.

Let’s briefly compare Seritage Growth Properties (SRG) stock to its peers. We find that current price change of -5.34% and -27.82% over the past 12 months for SRG competes that of Realty Income Corporation (O), which has seen its stock price rise 0.62% in the last trading session and was -3.64% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 0.46% and 0.45%, respectively, at close of the trading.

Coming back to Seritage Growth Properties (NYSE:SRG), we note that the average 3-month trading volume was 2.15 million, while that of the preceding 10-day period stands at 0.64 million. Current shares outstanding are 43.68 million.

The insiders hold 29.10% of the company’s shares while institutions hold 44.90%. The data shows that short shares as of Jul 14, 2022, stood at 8.11 million at a short ratio of 1.53. This represents a 14.47% short interest in shares outstanding on Jul 14, 2022. Shares short fall in July from the previous month at 8.43 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -16.73% down in year-to-date price movement.

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