Site Centers (NYSE:SITC) Now Covered by LADENBURG THALM/SH SH

LADENBURG THALM/SH SH started coverage on shares of Site Centers (NYSE:SITC) in a research report released on Tuesday, MarketBeat.com reports. The firm issued a neutral rating and a $10.00 target price on the stock.

A number of other research analysts also recently issued reports on the stock. Wall Street Zen upgraded shares of Site Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Piper Sandler restated an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.39.

Site Centers Trading Down 3.9%

NYSE SITC opened at $9.06 on Tuesday. Site Centers has a 12 month low of $8.92 and a 12 month high of $30.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $475.11 million, a price-to-earnings ratio of 1.34 and a beta of 1.40. The company’s fifty day moving average price is $11.22 and its two-hundred day moving average price is $11.92.

Site Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. The firm had revenue of $30.66 million for the quarter, compared to the consensus estimate of $33.10 million. During the same period in the prior year, the firm posted $0.27 EPS. The firm’s revenue was down 63.8% compared to the same quarter last year. As a group, research analysts predict that Site Centers will post 3.24 earnings per share for the current fiscal year.

Site Centers Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $3.25 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd.

Institutional Trading of Site Centers

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Site Centers by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock worth $413,000 after acquiring an additional 1,011 shares during the period. Daiwa Securities Group Inc. increased its stake in Site Centers by 7.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,778 shares of the company’s stock valued at $190,000 after buying an additional 1,092 shares during the period. Deutsche Bank AG increased its stake in Site Centers by 1.9% during the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock valued at $974,000 after buying an additional 1,195 shares during the period. State of Tennessee Department of Treasury increased its stake in Site Centers by 6.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 20,253 shares of the company’s stock valued at $229,000 after buying an additional 1,274 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its stake in Site Centers by 7.8% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company’s stock valued at $259,000 after buying an additional 1,486 shares during the period. Institutional investors and hedge funds 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.