Analysts Offer Predictions for SITE Centers Corp.’s Q3 2024 Earnings (NYSE:SITC)

SITE Centers Corp. (NYSE:SITC) – Analysts at KeyCorp issued their Q3 2024 EPS estimates for SITE Centers in a research report issued on Sunday, October 6th. KeyCorp analyst T. Thomas anticipates that the company will post earnings of $0.83 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for SITE Centers’ current full-year earnings is $3.63 per share. KeyCorp also issued estimates for SITE Centers’ Q4 2024 earnings at $0.20 EPS, FY2024 earnings at $3.14 EPS, Q1 2025 earnings at $0.19 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.11 EPS, Q4 2025 earnings at $0.12 EPS and FY2025 earnings at $0.56 EPS.

Several other analysts have also issued reports on the stock. Truist Financial upped their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock 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. Morgan Stanley lifted their price target on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $110.54.

SITE Centers Trading Down 0.5 %

SITE Centers stock opened at $17.45 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36. The firm has a 50-day moving average of $102.60 and a 200-day moving average of $184.96. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 17.11 and a beta of 1.64. SITE Centers has a one year low of $16.50 and a one year high of $64.44.

SITE Centers (NYSE:SITC) last announced its earnings results on Tuesday, July 30th. The company reported $17.76 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 business had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. During the same quarter in the prior year, the company posted $4.64 earnings per share. The firm’s revenue was down 16.5% on a year-over-year basis.

Institutional Investors Weigh In On SITE Centers

A number of hedge funds and other institutional investors have recently modified their holdings of SITC. SG Americas Securities LLC raised its position in shares of SITE Centers by 115.1% in the third quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock valued at $987,000 after buying an additional 8,731 shares in the last quarter. Quarry LP increased its holdings in SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares during the period. Algert Global LLC raised its position in shares of SITE Centers by 65.0% in the 2nd quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after buying an additional 162,260 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of SITE Centers by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock worth $1,510,000 after acquiring an additional 1,751 shares in the last quarter. Finally, APG Asset Management US Inc. increased its stake in SITE Centers by 145.0% in the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after acquiring an additional 535,550 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.