Brokerages Set SITE Centers Corp. (NYSE:SITC) Price Target at $131.05

Shares of SITE Centers Corp. (NYSE:SITC) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $131.05.

A number of equities research analysts recently issued reports on the company. Truist Financial lifted their target price on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Wells Fargo & Company boosted their price objective on shares of SITE Centers from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Stifel Nicolaus raised their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Evercore ISI raised shares of SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler raised their price objective on SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arizona State Retirement System raised its holdings in shares of SITE Centers by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after purchasing an additional 976 shares during the period. Vanderbilt University lifted its position in shares of SITE Centers by 10.0% in the second quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after buying an additional 1,126 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of SITE Centers by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 206,100 shares of the company’s stock worth $2,809,000 after acquiring an additional 1,246 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of SITE Centers by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Chilton Capital Management LLC raised its stake in SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after acquiring an additional 1,536 shares during the period. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Up 1.2 %

SITE Centers stock opened at $59.95 on Friday. SITE Centers has a twelve month low of $43.52 and a twelve month high of $64.44. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $134.19 and a 200-day moving average of $195.41. The stock has a market capitalization of $12.56 billion, a PE ratio of 58.77 and a beta of 1.64.

SITE Centers (NYSE:SITC) last released its earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $13.92. The firm had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The company’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.64 EPS. On average, equities research analysts anticipate that SITE Centers will post 3.63 EPS for the current fiscal year.

SITE Centers Company Profile

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.