SITE Centers Corp. (NYSE:SITC) Receives $58.89 Average Price Target from Brokerages

Shares of SITE Centers Corp. (NYSE:SITC) have received an average recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $58.89.

SITC has been the subject of a number of research analyst reports. Truist Financial upped their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Evercore ISI upgraded SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com raised SITE Centers from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd. Finally, Compass Point decreased their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th.

Hedge Funds Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC raised its stake in shares of SITE Centers by 384.0% in the first 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 last quarter. Allspring Global Investments Holdings LLC acquired a new position in SITE Centers in the second quarter worth $42,000. Quarry LP boosted its stake in SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in shares of SITE Centers during the third quarter worth $319,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of SITE Centers in the third quarter valued at $319,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $16.20 on Friday. The company has a market cap of $849.37 million, a price-to-earnings ratio of 1.19 and a beta of 1.62. The business has a 50 day moving average price of $33.56 and a 200 day moving average price of $150.03. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a twelve month low of $15.81 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. During the same period in the prior year, the business earned $1.32 earnings per share. SITE Centers’s revenue for the quarter was down 37.5% compared to the same quarter last year. Research analysts predict that SITE Centers will post 2.9 earnings per share for the current 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.