SITE Centers (NYSE:SITC) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of SITE Centers (NYSE:SITC) in a report released on Sunday. The firm set a “hold” rating on the stock.

Other research analysts have also recently issued research reports about the company. Truist Financial upped their target price on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Wells Fargo & Company increased their target price on SITE Centers from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Stifel Nicolaus boosted 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. Piper Sandler raised their price target on shares of SITE Centers from $256.00 to $288.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Evercore ISI upgraded shares of SITE Centers to a “hold” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.05.

SITE Centers Stock Up 1.2 %

Shares of SITC opened at $59.95 on Friday. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $134.19 and a 200 day moving average of $195.17. The company has a market cap of $12.56 billion, a PE ratio of 58.77 and a beta of 1.64. SITE Centers has a 52-week low of $43.52 and a 52-week high of $64.44.

SITE Centers (NYSE:SITC) last released its quarterly earnings results on Tuesday, July 30th. The company reported $17.76 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The firm had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. During the same period in the previous year, the company earned $4.64 EPS. The firm’s revenue for the quarter was down 16.5% compared to the same quarter last year. On average, sell-side analysts expect that SITE Centers will post 3.63 EPS for the current year.

Institutional Investors Weigh In On SITE Centers

Several hedge funds have recently modified their holdings of SITC. Chilton Capital Management LLC raised its position in shares of SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in SITE Centers in the second quarter worth about $42,000. Quarry LP lifted its position in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares during the last quarter. 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 purchased a new position in shares of SITE Centers in the 2nd quarter worth approximately $152,000. Hedge funds and other 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.