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

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

A number of other analysts also recently issued reports on SITC. Piper Sandler decreased their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Evercore ISI upgraded shares of SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley boosted their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, SITE Centers currently has an average rating of “Hold” and an average target price of $58.89.

SITE Centers Stock Up 0.5 %

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

SITE Centers (NYSE:SITC) last announced its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.32 earnings per share. On average, research analysts forecast that SITE Centers will post 2.9 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System boosted its holdings in shares of SITE Centers by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after buying an additional 976 shares in the last quarter. Vanderbilt University boosted its holdings in shares of SITE Centers by 10.0% during the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after buying an additional 1,126 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of SITE Centers by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock valued at $1,315,000 after buying an additional 1,500 shares in the last quarter. Vestcor Inc bought a new stake in shares of SITE Centers during the 3rd quarter valued at $95,000. Finally, Van ECK Associates Corp boosted its holdings in shares of SITE Centers by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock valued at $421,000 after buying an additional 1,723 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.