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 research report issued to clients and investors on Sunday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also recently weighed in on SITC. 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 report on Wednesday, August 28th. Evercore ISI upgraded SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. Piper Sandler lifted their price objective on SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Truist Financial lifted their price objective on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.71.

SITE Centers Price Performance

SITE Centers stock opened at $60.50 on Friday. The firm has a market capitalization of $12.68 billion, a P/E ratio of 59.31 and a beta of 1.64. SITE Centers has a 1 year low of $43.52 and a 1 year high of $64.44. The business has a 50-day moving average of $130.40 and a 200-day moving average of $193.81. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.70.

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

Institutional Investors Weigh In On SITE Centers

Several institutional investors have recently bought and sold shares of SITC. Chilton Capital Management LLC raised its stake in shares of SITE Centers by 384.0% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers during the 2nd quarter worth approximately $42,000. Quarry LP raised its stake 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 purchasing an additional 2,857 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers during the 1st quarter worth approximately $147,000. Finally, Diversified Trust Co bought a new stake in shares of SITE Centers during the 2nd quarter worth approximately $152,000. Institutional investors own 88.70% of the company’s stock.

About SITE Centers

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.