SITE Centers (NYSE:SITC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of SITE Centers (NYSE:SITC) in a research report released on Saturday. The firm issued a hold rating on the stock.

SITC has been the subject of a number of other reports. Truist Financial lifted their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. Evercore ISI upgraded shares of SITE Centers to a hold rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of SITE Centers from $64.00 to $68.00 and gave the stock an overweight rating in a research note on Wednesday, August 28th. Piper Sandler lifted 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, 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 report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $131.05.

SITE Centers Stock Up 0.6 %

NYSE:SITC opened at $59.23 on Friday. The firm has a market cap of $12.41 billion, a P/E ratio of 58.07 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.36 and a current ratio of 7.36. SITE Centers has a fifty-two week low of $43.52 and a fifty-two week high of $64.44. The firm has a 50-day simple moving average of $152.91 and a two-hundred day simple moving average of $200.84.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, beating 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 business had revenue of $113.48 million during the quarter, compared to analyst estimates of $113.23 million. During the same period last year, the business earned $4.64 EPS. SITE Centers’s revenue was down 16.5% compared to the same quarter last year. Analysts predict that SITE Centers will post 3.67 earnings per share for the current fiscal year.

Insider Activity at SITE Centers

In related news, Director Alexander Otto sold 14,252 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $225.76, for a total transaction of $3,217,531.52. Following the completion of the sale, the director now directly owns 1,079,267 shares in the company, valued at $243,655,317.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SITE Centers

Several large investors have recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in SITE Centers by 1.9% during the second quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after purchasing an additional 976 shares in the last quarter. Vanderbilt University lifted its holdings in shares of SITE Centers by 10.0% in the second quarter. Vanderbilt University now owns 12,378 shares of the company’s stock worth $179,000 after buying an additional 1,126 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of SITE Centers by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 206,100 shares of the company’s stock worth $2,809,000 after buying an additional 1,246 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of SITE Centers by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after buying an additional 1,500 shares in the last quarter. Finally, Chilton Capital Management LLC lifted its holdings in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after buying an additional 1,536 shares in the last quarter. 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.