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

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

SITC has been the subject of a number of other reports. Stifel Nicolaus lifted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Piper Sandler reduced their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company cut shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, Compass Point reduced their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SITE Centers currently has an average rating of “Hold” and an average price target of $39.38.

SITE Centers Stock Performance

SITC stock opened at $15.62 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The stock has a market cap of $818.96 million, a P/E ratio of 1.14 and a beta of 1.61. The firm has a 50 day simple moving average of $19.90 and a 200 day simple moving average of $126.72. SITE Centers has a 52 week low of $15.43 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period last year, the company posted $1.32 earnings per share. Research analysts anticipate that SITE Centers will post 2.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SITE Centers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of SITE Centers by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after purchasing an additional 976 shares in the last quarter. Vanderbilt University lifted its position in SITE Centers by 10.0% during the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock worth $179,000 after buying an additional 1,126 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in SITE Centers by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after buying an additional 1,500 shares in the last quarter. Vestcor Inc acquired a new position in SITE Centers during the 3rd quarter worth about $95,000. Finally, Van ECK Associates Corp lifted its position in SITE Centers by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after buying an additional 1,723 shares in the last quarter. Institutional investors and hedge funds 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.