SITE Centers down after Keybanc downgrades rating on asset sale plans

Curbline Properties

07/10/2024 14:46

** Shares of retail real estate investors SITE Centers
 SITC.N  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
 CURB.N  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;))