Seritage Growth Properties Clas (NYSE:SRG) at ‘Oversold’ According to the RSI

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Seritage Growth Properties Clas (NYSE:SRG) is at an oversold level with a 14-day RSI of 19.06.

The Relative Strength Index (RSI) is a very common technical indicator used to determine strengthening and weakening momentum in price action. An RSI above 70 is an overbought indication with RSI’s under 30 indicating oversold. Oversold is a technical condition that occurs when prices are considered too low and the stock may be ready to turn upword.

The stock’s Average True Range (ATR) is 1.00. The ATR is a short term indicator of volatility. It doesn’t indicate the likely direction of the stock price, just the likelihood that the stock will move.

Shares last traded at $41.00 barely below the 50 day moving average which is $44.95 and a bit lower than the 200 day moving average of $44.02. The 50 day moving average was down $-3.95 or -8.78% and the 200 day average was down $-3.02.

Short Interest

Short traders are more bullish on shares of the company of late as inferred by the motion in short interest. The company had a fall in short interest from September 29, 2017 to October 13, 2017 of -0.73%. Short shares fell from 9,841,307 to 9,769,647 over that period. With short interest at 9,769,647 and short average daily volume at 185,611, the short-interest ratio is 53.0 and the percentage of shorted shares is 0.29% as of October 13.

Dividends

Seritage Growth Properties Clas recently announced a dividend that will be paid on Thursday the 11th of January 2018. The dividend will be $0.250 per share for the quarter which is $1.00 annualized. The dividend yield will be $2.37. The ex-dividend date will be Thursday the 28th of September 2017.

Company Information

Seritage Growth Properties (Seritage), launched on June 3, 2015, is a self-administered and self-managed real estate investment trust (REIT). The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of diversified retail real estate throughout the United States. The Business’s assets are held by and its operations are primarily conducted through, directly or indirectly, Seritage Growth Properties, L.P. (Operating Partnership)..