SITE Centers (NASDAQ:SITC) Downgraded by Mizuho to “Neutral”

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Mizuho downgraded shares of SITE Centers (NASDAQ:SITC) from a buy rating to a neutral rating in a report published on Friday, BenzingaRatingsTable reports. The firm currently has $14.00 price target on the stock.

Separately, Compass Point assumed coverage on SITE Centers in a research note on Thursday, August 15th. They set a neutral rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $14.00.

NASDAQ:SITC opened at $14.70 on Friday. The stock’s fifty day moving average is $13.93 and its two-hundred day moving average is $13.50. SITE Centers has a 52 week low of $10.71 and a 52 week high of $15.23.

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

The business also recently disclosed a — dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.20 per share. This represents a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, September 20th.

Institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of SITE Centers by 37.3% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock worth $43,000 after acquiring an additional 896 shares during the period. Phocas Financial Corp. purchased a new stake in shares of SITE Centers during the second quarter worth $7,244,000. Machina Capital S.A.S. purchased a new stake in shares of SITE Centers during the second quarter worth $74,000. SRS Capital Advisors Inc. purchased a new stake in shares of SITE Centers during the second quarter worth $76,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of SITE Centers during the first quarter worth $108,000.

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.

See Also: Momentum Investing

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