BUZZ-SITE Centers down after Keybanc downgrades rating on asset sale plans

Reuters
07 Oct 2024

** Shares of retail real estate investors SITE Centers

fall 1.8% to $17.08 in early trade

** Brokerage Keybanc downgrades co to "sector weight" from "overweight"

** Expects co to continue selling assets to repay debts and investors, following the spin-off of Curbline Properties

on Oct. 1

** Believes co is looking to capitalize on arbitrage - price difference of asset valuations in public and private markets

** One of ten brokerages rate the stock "buy" or higher and nine "hold"; median PT is $58

** Up to Friday's close, stock had risen 63.5% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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