SITE Centers (NYSE:SITC – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
A number of other equities research analysts have also weighed in on SITC. Wells Fargo & Company began coverage on shares of SITE Centers in a research note on Tuesday, May 23rd. They set an “equal weight” rating and a $12.50 target price on the stock. Compass Point lifted their price target on shares of SITE Centers from $13.00 to $14.50 in a research report on Wednesday, July 26th. Finally, Mizuho lifted their target price on shares of SITE Centers from $12.00 to $15.00 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and an average price target of $14.17.
Check Out Our Latest Stock Analysis on SITC
SITE Centers Stock Performance
SITE Centers (NYSE:SITC – Get Free Report) last released its earnings results on Tuesday, July 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.27). The business had revenue of $136.00 million for the quarter, compared to the consensus estimate of $136.16 million. SITE Centers had a net margin of 21.07% and a return on equity of 6.07%. SITE Centers’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. On average, equities research analysts expect that SITE Centers will post 1.15 earnings per share for the current fiscal year.
Insider Transactions at SITE Centers
In other news, CFO Conor Fennerty sold 12,000 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $13.26, for a total value of $159,120.00. Following the sale, the chief financial officer now owns 97,364 shares of the company’s stock, valued at $1,291,046.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.
Institutional Trading of SITE Centers
A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of SITE Centers by 206.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,845 shares of the company’s stock valued at $71,000 after purchasing an additional 3,937 shares during the last quarter. Lazard Asset Management LLC purchased a new position in SITE Centers during the 1st quarter worth approximately $76,000. Migdal Insurance & Financial Holdings Ltd. raised its position in SITE Centers by 90.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,454 shares of the company’s stock worth $89,000 after buying an additional 3,535 shares during the last quarter. Quadrant Capital Group LLC raised its position in SITE Centers by 83.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,344 shares of the company’s stock worth $97,000 after buying an additional 3,345 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of SITE Centers by 826.3% during the 2nd quarter. Bessemer Group Inc. now owns 7,772 shares of the company’s stock worth $103,000 after purchasing an additional 6,933 shares during the period. 88.61% 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.
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