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

StockNews.com assumed coverage on shares of SITE Centers (NYSE:SITC) in a research note published on Tuesday. The firm issued a buy rating on the stock.

SITC has been the topic of a number of other reports. Compass Point dropped their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Piper Sandler lowered their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley raised their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Truist Financial lifted 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. Finally, Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Performance

SITE Centers stock opened at $15.83 on Tuesday. SITE Centers has a 52 week low of $15.43 and a 52 week high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $829.97 million, a P/E ratio of 1.16 and a beta of 1.62. The stock has a 50 day moving average of $24.26 and a 200-day moving average of $134.14.

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

Institutional Trading of SITE Centers

A number of large investors have recently added to or reduced their stakes in SITC. Arizona State Retirement System increased its stake in SITE Centers by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock worth $765,000 after purchasing an additional 976 shares in the last quarter. Vanderbilt University raised its holdings in shares of SITE Centers by 10.0% during the second quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after acquiring an additional 1,126 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of SITE Centers by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock valued at $1,315,000 after acquiring an additional 1,500 shares in the last quarter. Vestcor Inc purchased a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $95,000. Finally, Van ECK Associates Corp boosted its stake in SITE Centers by 6.3% in the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after purchasing an additional 1,723 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.