SITE Centers (NYSE:SITC) Releases Earnings Results, Misses Expectations By $0.07 EPS

SITE Centers (NYSE:SITC) issued its earnings results on Thursday. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07), Zacks reports. The company had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%.

SITE Centers Stock Down 3.6 %

Shares of SITE Centers stock opened at $14.01 on Friday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a twelve month low of $13.30 and a twelve month high of $32.22. The company has a market cap of $734.70 million, a price-to-earnings ratio of 1.02 and a beta of 1.60. The company’s 50 day moving average is $15.03 and its 200 day moving average is $33.06.

Insider Buying and Selling at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares in the company, valued at approximately $2,093,163.12. The trade was a 55.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,457 shares of company stock worth $2,791,693. Insiders own 10.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SITC shares. Piper Sandler dropped their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday. Citigroup decreased their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com upgraded SITE Centers from a “hold” rating to a “buy” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.61.

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.