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

SITE Centers (NYSE:SITC) announced its quarterly earnings data on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07), Zacks reports. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million.

SITE Centers Stock Performance

NYSE:SITC opened at $14.01 on Friday. The company has a market cap of $734.70 million, a price-to-earnings ratio of 1.02 and a beta of 1.60. SITE Centers has a 1 year low of $13.30 and a 1 year high of $32.22. The stock’s 50 day simple moving average is $15.03 and its two-hundred day simple moving average is $33.06. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

Insider Activity

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction 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 in the company, valued at $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of SITE Centers from a “hold” rating to a “buy” rating in a research note on Tuesday. Citigroup cut their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note 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 for the company in a research note on Wednesday, January 29th. Finally, Piper Sandler cut their target price on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.61.

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.