Site Centers (SITC) to Release Quarterly Earnings on Thursday

Site Centers (NYSE:SITC) is expected to be posting its results after the market closes on Thursday, February 26th. Analysts expect Site Centers to post earnings of ($0.24) per share and revenue of $22.3870 million for the quarter.

Site Centers Stock Performance

Shares of Site Centers stock opened at $6.62 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. The company has a market cap of $347.29 million, a PE ratio of 11.82 and a beta of 1.09. The company has a 50 day moving average of $6.37 and a 200-day moving average of $8.06. Site Centers has a 1-year low of $5.97 and a 1-year high of $14.93.

Site Centers Dividend Announcement

The firm also recently announced a special dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, December 15th.

Hedge Funds Weigh In On Site Centers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in Site Centers by 4,078.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock valued at $43,000 after purchasing an additional 3,671 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Site Centers by 380.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company’s stock valued at $45,000 after buying an additional 5,535 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Site Centers in the fourth quarter valued at about $70,000. Captrust Financial Advisors acquired a new stake in shares of Site Centers in the fourth quarter valued at about $77,000. Finally, Metis Global Partners LLC bought a new position in shares of Site Centers during the fourth quarter worth about $80,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SITC has been the topic of several recent analyst reports. Wall Street Zen lowered Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $8.00 target price (down previously from $10.00) on shares of Site Centers in a research note on Monday, January 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.83.

Site Centers Company Profile

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.