SITE Centers (NYSE:SITC) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of SITE Centers (NYSE:SITC) in a report released on Sunday. The brokerage issued a hold rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Truist Financial boosted their target price on shares of SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a report on Wednesday, August 28th. Piper Sandler boosted their target price on shares of SITE Centers from $256.00 to $288.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Evercore ISI upgraded shares of SITE Centers to a hold rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of SITE Centers from $64.00 to $68.00 and gave the stock an overweight rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the stock a buy rating in a report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $118.71.

SITE Centers Stock Performance

Shares of SITC stock opened at $17.06 on Friday. The company’s fifty day simple moving average is $125.76 and its 200-day simple moving average is $192.34. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.70. The firm has a market cap of $3.57 billion, a PE ratio of 16.73 and a beta of 1.64. SITE Centers has a 12 month low of $16.93 and a 12 month high of $64.44.

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

Hedge Funds Weigh In On SITE Centers

Several institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of SITE Centers by 1.9% in the second quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after acquiring an additional 976 shares in the last quarter. Vanderbilt University grew its stake in shares of SITE Centers by 10.0% in 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 in the last quarter. Louisiana State Employees Retirement System grew its stake 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 valued at $1,315,000 after acquiring an additional 1,500 shares in the last quarter. Chilton Capital Management LLC grew its stake 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 valued at $28,000 after acquiring an additional 1,536 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of SITE Centers by 6.3% in the second quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock valued at $421,000 after acquiring an additional 1,723 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.