SITE Centers (NYSE:SITC – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.
SITC has been the subject of several other research reports. Compass Point raised their target price on SITE Centers from $13.00 to $14.50 in a research note on Wednesday, July 26th. Mizuho decreased their target price on SITE Centers from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, September 18th. Finally, Wells Fargo & Company raised SITE Centers from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $14.42.
View Our Latest Stock Analysis on SITC
SITE Centers Trading Down 1.2 %
SITE Centers (NYSE:SITC – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.27). SITE Centers had a return on equity of 6.07% and a net margin of 21.07%. The business had revenue of $136.00 million during the quarter, compared to the consensus estimate of $136.16 million. During the same period in the previous year, the company posted $0.31 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Equities analysts predict that SITE Centers will post 1.15 earnings per share for the current year.
Institutional Investors Weigh In On SITE Centers
Several hedge funds have recently bought and sold shares of the business. Virginia Retirement Systems ET AL purchased a new stake in SITE Centers in the 2nd quarter worth about $2,644,000. Teachers Retirement System of The State of Kentucky lifted its stake in SITE Centers by 6.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 58,034 shares of the company’s stock worth $768,000 after acquiring an additional 3,270 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in SITE Centers by 9.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,678,623 shares of the company’s stock worth $48,631,000 after acquiring an additional 316,302 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of SITE Centers by 23.2% during the 2nd quarter. Wells Fargo & Company MN now owns 98,223 shares of the company’s stock worth $1,299,000 after purchasing an additional 18,480 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of SITE Centers by 79.6% during the 2nd quarter. Natixis Advisors L.P. now owns 36,915 shares of the company’s stock worth $488,000 after purchasing an additional 16,358 shares in the last quarter. 91.87% of the stock is owned by hedge funds and other institutional investors.
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.
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