SITE Centers (SITC) Expected to Announce Earnings on Thursday

SITE Centers (NYSE:SITC) is projected to post its quarterly earnings results before the market opens on Thursday, February 27th. Analysts expect SITE Centers to post earnings of $0.23 per share and revenue of $43.58 million for the quarter.

SITE Centers Price Performance

Shares of SITC stock opened at $14.57 on Wednesday. The stock’s fifty day moving average is $15.06 and its 200-day moving average is $33.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers has a 52 week low of $14.47 and a 52 week high of $32.22. The stock has a market capitalization of $764.06 million, a PE ratio of 1.07 and a beta of 1.60.

Wall Street Analysts Forecast Growth

SITC has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. StockNews.com raised shares of SITE Centers from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler dropped 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. Finally, Citigroup decreased their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.75.

Insiders Place Their Bets

In related news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This trade represents a 11.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,457 shares of company stock valued at $2,791,693. Company insiders own 10.10% 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.