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

StockNews.com assumed coverage on shares of SITE Centers (NYSE:SITC) in a report released on Tuesday. The brokerage issued a buy rating on the stock.

Several other research analysts also recently weighed in on SITC. Compass Point dropped their target price on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus upped their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. Morgan Stanley lifted their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Evercore ISI raised shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Finally, KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.89.

SITE Centers Stock Performance

SITC stock opened at $15.52 on Tuesday. SITE Centers has a one year low of $15.43 and a one year high of $64.44. The firm has a market cap of $813.71 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The firm has a 50-day simple moving average of $21.66 and a two-hundred day simple moving average of $131.05.

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

Institutional Investors Weigh In On SITE Centers

Several hedge funds have recently added to or reduced their stakes in SITC. Allspring Global Investments Holdings LLC acquired a new position in shares of SITE Centers in the 2nd quarter valued at about $42,000. Quarry LP raised its position in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after acquiring an additional 2,857 shares in the last quarter. Vestcor Inc acquired a new position in SITE Centers in the third quarter valued at approximately $95,000. O Shaughnessy Asset Management LLC purchased a new stake in SITE Centers in the 1st quarter worth approximately $147,000. Finally, Diversified Trust Co acquired a new stake in shares of SITE Centers during the 2nd quarter worth approximately $152,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.