SITE Centers (NYSE:SITC) Rating Increased to Hold at Wall Street Zen

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

Other analysts have also recently issued reports about the company. Piper Sandler cut their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company reduced their price objective on shares of 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of "Hold" and an average price target of $35.25.

SITE Centers Trading Up 1.8%

Shares of SITE Centers stock traded up $0.21 on Friday, hitting $12.06. The stock had a trading volume of 1,548,327 shares, compared to its average volume of 926,053. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a one year low of $10.46 and a one year high of $64.44. The stock has a market cap of $632.49 million, a price-to-earnings ratio of 0.88 and a beta of 1.32. The stock's 50-day simple moving average is $11.87 and its two-hundred day simple moving average is $13.67.

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

Institutional Trading of SITE Centers

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

About SITE Centers

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.