SITE Centers (NYSE:SITC) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of SITE Centers (NYSE:SITCGet Rating) from a hold rating to a sell rating in a research note published on Monday.

Other research analysts also recently issued research reports about the stock. Compass Point dropped their target price on shares of SITE Centers from $17.00 to $15.00 and set a neutral rating on the stock in a report on Wednesday, June 22nd. Jefferies Financial Group dropped their target price on shares of SITE Centers from $17.00 to $13.00 and set a hold rating on the stock in a report on Thursday, June 30th. KeyCorp dropped their target price on shares of SITE Centers from $19.00 to $17.00 and set an overweight rating on the stock in a report on Tuesday, June 28th. Morgan Stanley dropped their target price on shares of SITE Centers from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, July 15th. Finally, Piper Sandler dropped their target price on shares of SITE Centers to $18.00 in a report on Monday, July 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, SITE Centers currently has a consensus rating of Hold and a consensus target price of $16.06.

SITE Centers Stock Down 1.2 %

SITC stock opened at $14.43 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.97. SITE Centers has a 1 year low of $12.40 and a 1 year high of $17.61. The company has a fifty day simple moving average of $14.00 and a 200 day simple moving average of $15.07. The firm has a market cap of $3.09 billion, a PE ratio of 20.61 and a beta of 1.50.

SITE Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Thursday, June 9th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, June 8th. This represents a $0.52 annualized dividend and a dividend yield of 3.60%. SITE Centers’s payout ratio is 74.29%.

Institutional Trading of SITE Centers

Several institutional investors have recently made changes to their positions in SITC. Lindbrook Capital LLC boosted its position in shares of SITE Centers by 537.1% during the 2nd quarter. Lindbrook Capital LLC now owns 3,899 shares of the company’s stock valued at $53,000 after acquiring an additional 3,287 shares in the last quarter. Anson Funds Management LP acquired a new stake in shares of SITE Centers during the 1st quarter valued at about $75,000. Lazard Asset Management LLC acquired a new stake in shares of SITE Centers during the 1st quarter valued at about $76,000. Acadian Asset Management LLC acquired a new stake in shares of SITE Centers during the 4th quarter valued at about $91,000. Finally, KBC Group NV acquired a new stake in shares of SITE Centers during the 1st quarter valued at about $126,000. 88.34% of the stock is currently owned by institutional investors and hedge funds.

About SITE Centers

(Get Rating)

SITE Centers 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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