StockNews.com Initiates Coverage on SITE Centers (NYSE:SITC)

Research analysts at StockNews.com assumed coverage on shares of SITE Centers (NYSE:SITC) in a research report issued on Monday. The brokerage set a “buy” rating on the stock.

A number of other analysts have also commented on SITC. 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 research report on Monday, September 30th. Evercore ISI raised shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Piper Sandler upped their target price on SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial raised their target price on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Seven research 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 a consensus rating of “Hold” and a consensus price target of $110.54.

SITE Centers Stock Performance

Shares of SITE Centers stock opened at $17.45 on Monday. The firm has a fifty day moving average of $107.38 and a two-hundred day moving average of $186.42. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 17.12 and a beta of 1.64. 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 has a 52 week low of $16.50 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data 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 return on equity of 23.05% and a net margin of 91.77%. The business had revenue of $113.48 million for the quarter, compared to the consensus estimate of $113.23 million. During the same quarter last year, the business posted $4.64 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts predict that SITE Centers will post 3.63 EPS for the current year.

Institutional Trading of SITE Centers

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in SITE Centers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 30,339,767 shares of the company’s stock worth $413,531,000 after buying an additional 608,996 shares during the last quarter. Chilton Capital Management LLC lifted its stake in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after buying an additional 1,536 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in SITE Centers by 7.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,800,420 shares of the company’s stock valued at $38,170,000 after purchasing an additional 196,094 shares during the last quarter. Pensionfund Sabic raised its position in SITE Centers by 100.0% in the 1st quarter. Pensionfund Sabic now owns 20,000 shares of the company’s stock valued at $293,000 after buying an additional 10,000 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in SITE Centers during the fourth quarter worth about $526,000. Institutional investors 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.