SITE Centers Corp. (NYSE:SITC) Receives $39.38 Average PT from Analysts

SITE Centers Corp. (NYSE:SITC) has received an average recommendation of “Hold” from the nine research firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $39.38.

Several research firms have issued reports on SITC. Morgan Stanley increased their target price on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Piper Sandler reduced their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Compass Point decreased their price target on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus upped their price target 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.

Institutional Trading of SITE Centers

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vestcor Inc acquired a new position in SITE Centers in the third quarter worth approximately $95,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers during the 2nd quarter worth approximately $42,000. Neo Ivy Capital Management acquired a new position in SITE Centers in the third quarter valued at about $202,000. Systematic Financial Management LP bought a new stake in shares of SITE Centers in the third quarter worth $203,000. Finally, Quarry LP lifted its position in shares of SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Stock Down 0.3 %

SITC stock opened at $15.34 on Thursday. SITE Centers has a one year low of $15.26 and a one year high of $64.44. The stock has a market capitalization of $804.28 million, a PE ratio of 1.12 and a beta of 1.61. The company has a fifty day moving average of $17.26 and a 200-day moving average of $123.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

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

About SITE Centers

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.