SITE Centers (NYSE:SITC) Upgraded by Wall Street Zen to "Hold" Rating

SITE Centers (NYSE:SITC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

A number of other equities analysts have also commented on the stock. Piper Sandler reduced their target price on shares of 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 cut their price objective on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, SITE Centers currently has a consensus rating of "Hold" and a consensus price target of $35.25.

SITE Centers Stock Up 1.7%

SITE Centers stock traded up $0.19 during trading hours on Friday, hitting $11.85. 649,056 shares of the stock traded hands, compared to its average volume of 921,329. The firm's 50-day moving average price is $11.87 and its two-hundred day moving average price is $13.70. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The company has a market cap of $621.63 million, a PE ratio of 0.87 and a beta of 1.33. SITE Centers has a one year low of $10.46 and a one year high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 earnings per share (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 the consensus estimate of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company's revenue was down 66.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, research analysts forecast that SITE Centers will post 3.24 EPS for the current year.

Institutional Investors Weigh In On SITE Centers

A number of large investors have recently modified their holdings of SITC. KBC Group NV boosted its stake in SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after purchasing an additional 2,193 shares during the period. Advisors Preferred LLC purchased a new position in SITE Centers during the 4th quarter valued at about $2,517,000. Van ECK Associates Corp grew its holdings in shares of SITE Centers by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after buying an additional 833 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of SITE Centers by 7.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 69,924 shares of the company's stock worth $1,050,000 after acquiring an additional 4,669 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of SITE Centers by 2.2% in the fourth quarter. Rhumbline Advisers now owns 153,334 shares of the company's stock worth $2,344,000 after acquiring an additional 3,366 shares during the last quarter. 88.70% of the stock is 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.

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