Site Centers Corp. (NYSE:SITC) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Site Centers Corp. (NYSE:SITC) has received an average recommendation of "Hold" from five research firms, with one sell rating, three hold ratings, and one buy rating.
• The company's latest earnings report showed a revenue of $30.66 million, which fell short of analyst expectations of $33.10 million, with earnings per share meeting consensus estimates at $0.16.
• A special dividend of $1.00 is scheduled to be paid on November 14th, with the record date being October 31st.

Site Centers Corp. (NYSE:SITC - Get Free Report) has received an average recommendation of "Hold" from the five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $13.1250.

SITC has been the subject of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on Site Centers in a research note on Tuesday, September 9th. They set a "neutral" rating and a $10.00 price target for the company. Weiss Ratings restated a "sell (d)" rating on shares of Site Centers in a research note on Wednesday, October 8th. Finally, Piper Sandler set a $12.00 price target on shares of Site Centers and gave the stock an "overweight" rating in a research note on Wednesday.

Institutional Investors Weigh In On Site Centers

A number of institutional investors and hedge funds have recently made changes to their positions in SITC. GAMMA Investing LLC grew its position in 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Site Centers by 4,078.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock valued at $43,000 after acquiring an additional 3,671 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Site Centers by 256.7% during the first quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock valued at $62,000 after acquiring an additional 3,489 shares during the last quarter. Covestor Ltd raised its stake in shares of Site Centers by 61.7% during the first quarter. Covestor Ltd now owns 6,072 shares of the company's stock valued at $78,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Osaic Holdings Inc. raised 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 valued at $99,000 after acquiring an additional 7,116 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

Site Centers Stock Performance

Shares of Site Centers stock opened at $8.85 on Friday. The company has a market cap of $463.83 million, a P/E ratio of 1.31 and a beta of 1.39. The business has a 50-day moving average price of $9.54 and a two-hundred day moving average price of $10.97. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. Site Centers has a 1-year low of $8.42 and a 1-year high of $17.30.

Site Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16. The company had revenue of $30.66 million for 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%. The business's revenue was down 63.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.27 EPS. As a group, analysts anticipate that Site Centers will post 3.24 EPS for the current year.

Site Centers Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be paid a $1.00 dividend. The ex-dividend date is Friday, October 31st.

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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