SITE Centers (NYSE:SITC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of SITE Centers (NYSE:SITC - Free Report) in a report published on Wednesday morning. The firm issued a hold rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley raised 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. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. Compass Point lowered their price target on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Finally, Piper Sandler lowered their price target on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.38.

SITE Centers Price Performance

NYSE SITC traded up $0.03 on Wednesday, reaching $15.62. The company had a trading volume of 688,352 shares, compared to its average volume of 695,932. The stock has a market capitalization of $818.96 million, a PE ratio of 1.14 and a beta of 1.61. SITE Centers has a 12 month low of $15.43 and a 12 month high of $64.44. The firm's 50 day moving average price is $19.90 and its 200 day moving average price is $126.72. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) 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. The company had revenue of $89.43 million during the quarter, compared to analysts' expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's revenue for the quarter was down 37.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.32 earnings per share. As a group, equities analysts predict that SITE Centers will post 2.9 earnings per share for the current year.

Institutional Investors Weigh In On SITE Centers

Several large investors have recently modified their holdings of SITC. Allspring Global Investments Holdings LLC acquired a new position in shares of SITE Centers in the 2nd quarter valued at $42,000. Quarry LP increased its holdings in SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. Vestcor Inc bought a new position in SITE Centers during the 3rd quarter worth about $95,000. Diversified Trust Co bought a new position in SITE Centers during the 2nd quarter worth about $152,000. Finally, Evergreen Capital Management LLC bought a new position in SITE Centers during the 2nd quarter worth about $167,000. 88.70% of the stock is currently owned by 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.