Is Seritage Growth Properties overvalued or undervalued?

As of 5 May 2016, the valuation grade for Seritage Growth Properties moved from does not qualify to risky, indicating a significant shift in its financial standing. The company appears to be overvalued, particularly when considering its key ratios, including a Price to Book Value of 0.43 and an EV to Sales ratio of 3.51, which are concerning given its negative earnings metrics. The ROCE and ROE are also troubling at -17.90% and -16.96%, respectively, highlighting the company's struggles in generating returns.
In comparison to its peers, Seritage's P/E ratio is notably negative at -2.51, while Diversified Healthcare Trust also shows a negative P/E of -5.00, contrasting sharply with Gladstone Commercial Corp., which boasts a P/E of 21.36 and is rated very attractive. This disparity underscores the challenges Seritage faces in the market. Additionally, the company's stock has underperformed significantly against the S&P 500 over various time frames, including a year-to-date decline of 27.18% compared to the index's modest gain of 2.44%.