SITE Centers Corp. (NYSE:SITC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of SITE Centers Corp. (NYSE:SITC) have received an average rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $39.38.

SITC has been the subject of several recent analyst reports. 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 note on Thursday, September 19th. Compass Point cut their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Piper Sandler dropped their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th.

SITE Centers Stock Up 0.7 %

SITC stock opened at $15.44 on Thursday. SITE Centers has a twelve month low of $15.26 and a twelve month high of $64.44. The company has a market cap of $809.52 million, a price-to-earnings ratio of 1.13 and a beta of 1.61. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $17.26 and a two-hundred day moving average price of $122.27.

SITE Centers (NYSE:SITC) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The business had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share. Analysts anticipate that SITE Centers will post 2.9 EPS for the current fiscal year.

Institutional Trading of SITE Centers

Several hedge funds and other institutional investors have recently bought and sold shares of SITC. Price T Rowe Associates Inc. MD grew its position in shares of SITE Centers by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 131,109 shares of the company’s stock worth $1,921,000 after purchasing an additional 6,943 shares in the last quarter. Diversified Trust Co acquired a new stake in SITE Centers during the second quarter worth approximately $152,000. Vanderbilt University increased its stake in SITE Centers by 10.0% during the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock worth $179,000 after acquiring an additional 1,126 shares during the period. TCW Group Inc. raised its holdings in SITE Centers by 91.6% in the 2nd quarter. TCW Group Inc. now owns 214,796 shares of the company’s stock valued at $3,115,000 after acquiring an additional 102,673 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of SITE Centers by 2.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company’s stock valued at $1,282,000 after acquiring an additional 1,894 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.