SITE Centers (NYSE:SITC) Now Covered by StockNews.com

Research analysts at StockNews.com assumed coverage on shares of SITE Centers (NYSE:SITC) in a research note issued to investors on Saturday. The brokerage set a “hold” rating on the stock.

SITC has been the subject of several other reports. Wells Fargo & Company increased their price target on SITE Centers from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Stifel Nicolaus raised their target price on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday. Evercore ISI upgraded SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Truist Financial increased their price objective 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. Finally, 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 research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $131.05.

SITE Centers Stock Down 1.0 %

Shares of NYSE:SITC opened at $58.90 on Friday. The stock has a 50-day simple moving average of $152.91 and a 200-day simple moving average of $201.14. The stock has a market capitalization of $12.34 billion, a P/E ratio of 57.75 and a beta of 1.64. SITE Centers has a 1 year low of $43.52 and a 1 year high of $64.44. 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 (NYSE:SITC) last released its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The company had revenue of $113.48 million during the quarter, compared to the consensus estimate of $113.23 million. During the same period in the previous year, the firm earned $4.64 earnings per share. SITE Centers’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts forecast that SITE Centers will post 3.67 earnings per share for the current year.

Insider Activity

In other SITE Centers news, Director Alexander Otto sold 24,041 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $232.00, for a total transaction of $5,577,512.00. Following the transaction, the director now directly owns 1,107,970 shares in the company, valued at approximately $257,049,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 60,641 shares of company stock worth $13,940,447. 10.10% of the stock is currently owned by insiders.

Institutional Trading of SITE Centers

Institutional investors and hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC grew its position in shares of SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in SITE Centers during the second quarter valued at $42,000. Quarry LP raised its holdings in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of SITE Centers in the 1st quarter worth about $147,000. Finally, Diversified Trust Co bought a new stake in shares of SITE Centers during the 2nd quarter valued at about $152,000. Institutional investors and hedge funds 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.