Site Centers Corp. (NYSE:SITC) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Site Centers Corp. (NYSE:SITC) has received a consensus rating of "Hold" from seven research firms, with five analysts recommending hold and two suggesting buy.
• After reporting earnings that met expectations, Site Centers disclosed a $3.25 special dividend paid to investors on August 29th.
• Institutional investors own a significant 88.70% of Site Centers' stock, with notable increases in holdings from several firms in recent quarters.

Shares of Site Centers Corp. (NYSE:SITC - Get Free Report) have earned a consensus recommendation of "Hold" from the seven research firms that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $31.4583.

A number of analysts have recently weighed in on SITC shares. Piper Sandler reaffirmed an "overweight" rating on shares of Site Centers in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Site Centers from a "sell" rating to a "hold" rating in a research report on Friday, June 6th.

Site Centers Stock Performance

SITC opened at $9.35 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. Site Centers has a 52-week low of $8.92 and a 52-week high of $30.56. The firm has a market cap of $490.05 million, a P/E ratio of 1.38 and a beta of 1.40. The business's fifty day moving average is $11.30 and its 200-day moving average is $12.02.

Site Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $30.66 million during the quarter, compared to analysts' expectations of $33.10 million. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. Site Centers's revenue was down 63.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. Sell-side analysts expect that Site Centers will post 3.24 EPS for the current fiscal year.

Site Centers Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $3.25 per share. The ex-dividend date was Tuesday, September 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Site Centers by 275.2% in the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company's stock worth $27,000 after acquiring an additional 1,764 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock worth $43,000 after purchasing an additional 3,671 shares in the last quarter. AlphaQuest LLC lifted its stake in Site Centers by 256.7% in the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock valued at $62,000 after purchasing an additional 3,489 shares during the last quarter. Covestor Ltd boosted its position in Site Centers by 61.7% in the first quarter. Covestor Ltd now owns 6,072 shares of the company's stock valued at $78,000 after buying an additional 2,316 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Site Centers by 926.6% during the second quarter. Osaic Holdings Inc. now owns 7,884 shares of the company's stock worth $99,000 after buying an additional 7,116 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

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.

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