SITE Centers (NYSE:SITC) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of SITE Centers (NYSE:SITC) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating on the stock.

Several other research firms have also commented on SITC. Morgan Stanley upped their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Truist Financial upped their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI raised shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased 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. Finally, KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, SITE Centers currently has a consensus rating of “Hold” and an average target price of $58.89.

SITE Centers Stock Up 0.5 %

SITE Centers stock traded up $0.08 during mid-day trading on Monday, reaching $15.70. The stock had a trading volume of 667,029 shares, compared to its average volume of 680,072. The company has a market capitalization of $823.15 million, a price-to-earnings ratio of 1.15 and a beta of 1.62. The company has a 50-day moving average price of $29.41 and a two-hundred day moving average price of $142.90. SITE Centers has a one year low of $15.43 and a one year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 164.10% and a return on equity of 34.20%. The business’s revenue for the quarter was down 37.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. On average, analysts expect that SITE Centers will post 2.9 EPS for the current fiscal year.

Institutional Investors Weigh In On SITE Centers

Several institutional investors and hedge funds have recently modified their holdings of the stock. Long Pond Capital LP raised its position in shares of SITE Centers by 403.8% during the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock valued at $84,885,000 after buying an additional 4,644,142 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of SITE Centers by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock valued at $39,426,000 after buying an additional 31,529 shares during the last quarter. APG Asset Management US Inc. raised its position in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after buying an additional 535,550 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of SITE Centers by 6.8% during the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after buying an additional 56,013 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of SITE Centers by 3,017.5% in the second 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 in the last quarter. 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.