Compass Point Initiates Coverage on SITE Centers (NASDAQ:SITC)

Compass Point began coverage on shares of SITE Centers (NASDAQ:SITC) in a report issued on Thursday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $14.00 target price on the stock.

SITC opened at $13.70 on Thursday. The business’s 50-day moving average price is $13.56 and its two-hundred day moving average price is $13.41. SITE Centers has a 1 year low of $10.71 and a 1 year high of $14.84.

SITE Centers (NASDAQ:SITC) last released its quarterly earnings results on Monday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.23). The business had revenue of $113.50 million during the quarter, compared to analysts’ expectations of $113.12 million. The business’s quarterly revenue was down 44.4% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of SITE Centers by 37.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock valued at $43,000 after acquiring an additional 896 shares in the last quarter. Pictet Asset Management Ltd. grew its holdings in shares of SITE Centers by 3.5% in the 2nd quarter. Pictet Asset Management Ltd. now owns 26,400 shares of the company’s stock valued at $350,000 after acquiring an additional 900 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of SITE Centers by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 121,406 shares of the company’s stock valued at $1,653,000 after acquiring an additional 917 shares in the last quarter. Cedar Brook Financial Partners LLC grew its holdings in shares of SITE Centers by 4.0% in the 1st quarter. Cedar Brook Financial Partners LLC now owns 40,117 shares of the company’s stock valued at $546,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Arrow Investment Advisors LLC grew its holdings in shares of SITE Centers by 6.1% in the 1st quarter. Arrow Investment Advisors LLC now owns 33,427 shares of the company’s stock valued at $455,000 after acquiring an additional 1,931 shares in the last quarter.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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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