SITE Centers (SITC) Expected to Announce Earnings on Thursday

SITE Centers (NYSE:SITC) is expected to be releasing its earnings data before the market opens on Thursday, February 27th. Analysts expect SITE Centers to post earnings of $0.23 per share and revenue of $43.58 million for the quarter.

SITE Centers Trading Down 0.6 %

Shares of NYSE SITC opened at $14.69 on Thursday. The company’s 50 day simple moving average is $15.14 and its 200 day simple moving average is $41.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The firm has a market capitalization of $769.93 million, a P/E ratio of 1.07 and a beta of 1.60. SITE Centers has a fifty-two week low of $14.53 and a fifty-two week high of $32.22.

Insider Activity at SITE Centers

In related news, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. 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. 10.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SITC. Wells Fargo & Company decreased 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 research report on Wednesday, January 29th. Piper Sandler dropped their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. StockNews.com assumed coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Finally, Citigroup dropped their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, SITE Centers has a consensus rating of “Hold” and a consensus price target of $35.75.

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.