SITE Centers (NYSE:SITC) Lowered to Sell Rating by Wall Street Zen

SITE Centers (NYSE:SITC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also weighed in on the company. Piper Sandler lowered their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company lowered their price target on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $35.25.

SITE Centers Stock Up 0.8%

SITE Centers stock traded up $0.09 during mid-day trading on Friday, reaching $12.00. The company's stock had a trading volume of 421,699 shares, compared to its average volume of 912,647. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers has a 12 month low of $10.46 and a 12 month high of $64.44. The business's 50 day simple moving average is $11.98 and its 200 day simple moving average is $13.87. The company has a market capitalization of $629.34 million, a price-to-earnings ratio of 0.88 and a beta of 1.32.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The business had revenue of $40.35 million for the quarter, compared to analyst estimates of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company's quarterly revenue was down 66.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. As a group, research analysts anticipate that SITE Centers will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Illinois Municipal Retirement Fund boosted its stake in shares of SITE Centers by 3.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock worth $385,000 after acquiring an additional 730 shares during the period. Van ECK Associates Corp boosted its stake in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after acquiring an additional 833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SITE Centers by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock worth $413,000 after acquiring an additional 1,011 shares during the period. Deutsche Bank AG boosted its stake in shares of SITE Centers by 1.9% during the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock worth $974,000 after acquiring an additional 1,195 shares during the period. Finally, Resona Asset Management Co. Ltd. boosted its stake in shares of SITE Centers by 7.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company's stock worth $259,000 after acquiring an additional 1,486 shares during the period. 88.70% of the stock is currently owned by 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.