SITE Centers (NYSE:SITC) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of SITE Centers (NYSE:SITC) in a report released on Saturday morning. The firm issued a hold rating on the stock.

Other analysts have also issued research reports about the stock. Piper Sandler raised their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on SITE Centers from $64.00 to $68.00 and gave the company an overweight rating in a research report on Wednesday, August 28th. Truist Financial increased their target price on SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on SITE Centers from $65.00 to $65.25 and gave the company a buy rating in a report on Thursday. Finally, Evercore ISI raised shares of SITE Centers to a hold rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $131.05.

SITE Centers Price Performance

Shares of SITC stock opened at $58.90 on Friday. The stock’s fifty day simple moving average is $152.91 and its 200 day simple moving average is $201.14. SITE Centers has a one year low of $43.52 and a one year high of $64.44. The firm has a market cap of $12.34 billion, a price-to-earnings ratio of 57.75 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36.

SITE Centers (NYSE:SITC) last issued its earnings results on Tuesday, July 30th. The company reported $17.76 EPS for the quarter, beating the consensus estimate of $3.84 by $13.92. The company had revenue of $113.48 million for the quarter, compared to the consensus estimate of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.64 EPS. On average, analysts expect that SITE Centers will post 3.67 earnings per share for the current fiscal year.

Insider Activity at SITE Centers

In other SITE Centers news, Director Alexander Otto sold 22,348 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $230.24, for a total transaction of $5,145,403.52. Following the completion of the sale, the director now directly owns 1,036,436 shares of the company’s stock, valued at approximately $238,629,024.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 60,641 shares of company stock worth $13,940,447 over the last 90 days. Insiders own 10.10% of the company’s stock.

Institutional Trading of SITE Centers

Several institutional investors and hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC grew its stake in shares of SITE Centers by 384.0% during the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after purchasing an additional 1,536 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of SITE Centers during the 2nd quarter worth about $42,000. Quarry LP grew its position in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after buying an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers in the 1st quarter valued at about $147,000. Finally, Diversified Trust Co acquired a new stake in shares of SITE Centers in the 2nd quarter valued at approximately $152,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Company Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.