SITE Centers (NYSE:SITC) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

SITE Centers (NYSE:SITC) announced its quarterly earnings results on Thursday. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07), Zacks reports. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%.

SITE Centers Trading Down 5.2 %

Shares of SITC stock traded down $0.76 on Thursday, hitting $13.79. 1,669,478 shares of the stock traded hands, compared to its average volume of 788,065. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers has a twelve month low of $13.30 and a twelve month high of $32.22. The firm’s 50-day moving average price is $15.05 and its two-hundred day moving average price is $33.20. The stock has a market capitalization of $722.75 million, a PE ratio of 1.01 and a beta of 1.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Wells Fargo & Company dropped their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com upgraded SITE Centers from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Piper Sandler decreased their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $35.75.

Insider Activity

In related news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the transaction, the director now owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock valued at $2,791,693 in the last 90 days. Company insiders own 10.10% of the company’s stock.

SITE Centers Company Profile

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.