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. The company appears to be overvalued given its financial metrics, with a Price to Book Value of 0.43, an EV to EBIT of -1.17, and an EV to EBITDA of -1.47. These ratios indicate significant losses and a lack of profitability compared to its peers.
In comparison to its peers, Seritage Growth Properties has a much lower EV to EBITDA ratio than TPG RE Finance Trust, Inc. at 2.2321 and Gladstone Commercial Corp. at 6.0454, both of which are classified as very attractive. Additionally, the company's recent stock performance has been poor, with a 1-year return of -4.84% compared to the S&P 500's 17.14%, and a staggering 3-year return of -63.31% against the benchmark's 70.41%. This further reinforces the notion that Seritage Growth Properties is overvalued in the current market.