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

Research analysts at StockNews.com assumed coverage on shares of SITE Centers (NYSE:SITC) in a report released on Monday. The brokerage set a “buy” rating on the stock.

Several other equities analysts have also commented on SITC. Piper Sandler dropped their price target 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. Compass Point dropped their price target on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Evercore ISI upgraded SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price objective on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Performance

NYSE SITC opened at $16.16 on Monday. SITE Centers has a 12-month low of $15.43 and a 12-month 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 business’s 50 day moving average is $28.59 and its two-hundred day moving average is $141.44. The stock has a market capitalization of $847.01 million, a price-to-earnings ratio of 1.18 and a beta of 1.62.

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

Institutional Investors Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently modified their holdings of SITC. Long Pond Capital LP boosted its holdings in shares of SITE Centers by 403.8% in the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock worth $84,885,000 after buying an additional 4,644,142 shares during the period. Bank of Montreal Can raised its stake in SITE Centers by 3,017.5% during the 2nd quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after purchasing an additional 739,174 shares during the period. APG Asset Management US Inc. lifted its holdings in shares of SITE Centers by 145.0% in the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after purchasing an additional 535,550 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of SITE Centers in the second quarter worth $3,089,000. Finally, Algert Global LLC grew its holdings in shares of SITE Centers by 65.0% during the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after buying an additional 162,260 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.