Site Centers (NYSE:SITC) Now Covered by Analysts at LADENBURG THALM/SH SH

Key Points

• Analysts at LADENBURG THALM/SH SH have initiated coverage of Site Centers (NYSE:SITC), setting a "neutral" rating with a price target of $10.00, suggesting a 6.10% potential upside from the previous close.
• Site Centers reported $0.16 EPS for the last quarter, meeting consensus estimates, but experienced a 63.8% decline in revenue year-over-year, totaling $30.66 million.
• Investment interest from institutional investors is high, with 88.70% of the stock owned by hedge funds and other institutions, reflecting significant changes in ownership stakes recently.

Equities researchers at LADENBURG THALM/SH SH assumed coverage on shares of Site Centers (NYSE:SITC - Get Free Report) in a report released on Tuesday, MarketBeat.com reports. The firm set a "neutral" rating and a $10.00 price target on the stock. LADENBURG THALM/SH SH's target price would indicate a potential upside of 6.10% from the stock's previous close.

A number of other research analysts also recently weighed in on SITC. Piper Sandler reiterated an "overweight" rating on shares of Site Centers in a report on Tuesday, July 8th. Wall Street Zen upgraded Site Centers from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $28.39.

Site Centers Trading Up 0.9%

SITC opened at $9.43 on Tuesday. The business has a 50 day simple moving average of $11.26 and a two-hundred day simple moving average of $11.94. The firm has a market capitalization of $494.25 million, a price-to-earnings ratio of 1.39 and a beta of 1.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. Site Centers has a one year low of $8.92 and a one year high of $30.56.

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

Institutional Trading of Site Centers

Several institutional investors have recently added to or reduced their stakes in SITC. GAMMA Investing LLC lifted its holdings in shares of Site Centers by 275.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company's stock valued at $27,000 after buying an additional 1,764 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock valued at $43,000 after buying an additional 3,671 shares during the period. AlphaQuest LLC lifted its holdings in shares of Site Centers by 256.7% during the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock valued at $62,000 after buying an additional 3,489 shares during the period. Covestor Ltd lifted its holdings in shares of Site Centers by 61.7% during the 1st quarter. Covestor Ltd now owns 6,072 shares of the company's stock valued at $78,000 after buying an additional 2,316 shares during the period. Finally, Osaic Holdings Inc. lifted its holdings in shares of Site Centers by 926.6% during the 2nd quarter. Osaic Holdings Inc. now owns 7,884 shares of the company's stock valued at $99,000 after buying an additional 7,116 shares during the period. 88.70% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.