Site Centers (NYSE:SITC) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Site Centers (NYSE:SITC) from a hold rating to a sell rating in a research note released on Saturday.

A number of other brokerages also recently issued reports on SITC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a report on Friday, March 27th. Piper Sandler increased their price objective on Site Centers from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Site Centers has a consensus rating of “Reduce” and a consensus target price of $8.00.

Site Centers Stock Down 0.8%

Shares of SITC opened at $5.56 on Friday. The stock has a 50 day moving average price of $5.64 and a 200 day moving average price of $6.44. The company has a market capitalization of $291.42 million, a price-to-earnings ratio of 1.67 and a beta of 1.01. Site Centers has a 52-week low of $5.24 and a 52-week high of $13.10.

Site Centers (NYSE:SITC) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.13. The firm had revenue of $9.37 million during the quarter, compared to the consensus estimate of $10.20 million. Site Centers had a return on equity of 46.66% and a net margin of 212.95%.

Institutional Trading of Site Centers

Large investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. grew its holdings in Site Centers by 771.0% in the third quarter. Jefferies Financial Group Inc. now owns 1,354,196 shares of the company’s stock valued at $12,201,000 after purchasing an additional 1,198,725 shares during the last quarter. SG Americas Securities LLC grew its holdings in Site Centers by 698.7% in the fourth quarter. SG Americas Securities LLC now owns 819,736 shares of the company’s stock valued at $5,263,000 after purchasing an additional 717,098 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in Site Centers by 47.0% in the third quarter. Tudor Investment Corp ET AL now owns 314,955 shares of the company’s stock valued at $2,838,000 after purchasing an additional 100,709 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Site Centers by 150.9% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 654,465 shares of the company’s stock valued at $4,202,000 after purchasing an additional 393,571 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Site Centers by 71.7% in the fourth quarter. Jennison Associates LLC now owns 293,532 shares of the company’s stock valued at $1,884,000 after purchasing an additional 122,609 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Site Centers

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.