Site Centers (NYSE:SITC – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.
Other equities analysts also recently issued reports about the stock. Piper Sandler reduced their price objective on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research note on Monday, September 21st. Finally, Zacks Research lowered shares of Site Centers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of $3.50.
View Our Latest Stock Report on Site Centers
Site Centers Price Performance
Shares of NYSE:SITC opened at $0.67 on Friday. The business has a 50-day moving average of $3.18 and a two-hundred day moving average of $4.62. Site Centers has a fifty-two week low of $0.59 and a fifty-two week high of $7.49. The stock has a market capitalization of $35.12 million, a P/E ratio of 0.27 and a beta of 0.96.
Site Centers (NYSE:SITC – Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The firm had revenue of $4.47 million for the quarter, compared to the consensus estimate of $5.70 million. Site Centers had a net margin of 334.85% and a return on equity of 41.84%.
Hedge Funds Weigh In On Site Centers
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Site Centers during the 2nd quarter worth about $20,004,000. Jefferies Financial Group Inc. bought a new stake in Site Centers in the 2nd quarter valued at $7,222,000. Beverly Hills Private Wealth LLC bought a new stake in shares of Site Centers in the third quarter valued at about $4,461,000. Kore Advisors LP acquired a new stake in Site Centers during the first quarter worth approximately $4,304,000. Finally, Bessemer Group Inc. raised its position in shares of Site Centers by 315,970.1% in the 1st quarter. Bessemer Group Inc. now owns 635,301 shares of the company’s stock valued at $3,431,000 after buying an additional 635,100 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
Site Centers Company Profile
SITE Centers Corp. (NYSE: SITC) is a self-administered and self-managed real estate investment trust that owns, operates and leases open-air shopping centers in the United States. Its properties are generally located in suburban communities and are designed to serve everyday consumer needs.
The company’s portfolio includes grocery-anchored and other multi-tenant retail centers occupied by a mix of national, regional and local retailers, restaurants, service providers and other consumer-focused businesses.
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