SITE Centers (NYSE:SITC) Releases Earnings Results, Misses Estimates By $0.07 EPS

SITE Centers (NYSE:SITC) released its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07), Zacks reports. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%.

SITE Centers Price Performance

NYSE SITC traded down $0.76 during trading hours on Thursday, reaching $13.79. The company’s stock had a trading volume of 1,669,478 shares, compared to its average volume of 788,065. 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 company’s 50-day moving average is $15.05 and its two-hundred day moving average is $33.20. SITE Centers has a fifty-two week low of $13.30 and a fifty-two week high of $32.22. The stock has a market cap of $722.75 million, a PE ratio of 1.01 and a beta of 1.60.

Insider Buying and Selling at SITE Centers

In other news, Director Dawn M. Sweeney sold 3,768 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This represents a 11.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the transaction, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. The trade was a 55.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,457 shares of company stock valued at $2,791,693 over the last quarter. Corporate insiders own 10.10% of the company’s stock.

Wall Street Analyst Weigh In

SITC has been the subject of a number of research reports. StockNews.com raised shares of SITE Centers from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler cut their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company cut their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup decreased their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, SITE Centers has a consensus rating of “Hold” and an average price target of $35.75.

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.