Published on 18 Sep 2023 on Zacks via Yahoo Finance
SITE Centers (SITC) Up 13.7% in 6 Months: Will the Trend Last?
Shares of SITE Centers SITC, currently carrying a Zacks Rank #3 (Hold), have gained 13.7% over the past six months compared with its industry’s rally of 5.2%.With robust retail real estate demand and muted new supply driving the industry’s recovery, SITE Centers’ portfolio of well-located properties in suburban and high-household-income regions of the United States is likely to have benefited from robust leasing activity, leading to occupancy gains.Also, this Beachwood, OH-based retail real estate investment trust’s (REIT) focus on essential retail business and aggressive capital-recycling efforts have enabled it to ride the growth curve so far.
Image Source: Zacks Investment Research