Analysts Set SITE Centers Corp. (NYSE:SITC) PT at $35.61

Shares of SITE Centers Corp. (NYSE:SITC) have earned an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.61.

A number of research analysts recently weighed in on SITC shares. Wells Fargo & Company dropped their price target on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup lowered their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Piper Sandler decreased their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, February 28th.

SITE Centers Trading Up 0.4 %

Shares of SITC stock opened at $12.79 on Friday. SITE Centers has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The stock has a 50 day simple moving average of $14.52 and a two-hundred day simple moving average of $22.15. The company has a market cap of $670.32 million, a P/E ratio of 0.94 and a beta of 1.63.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Research analysts forecast that SITE Centers will post 3.24 earnings per share for the current year.

Insider Buying and Selling

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.10% of the stock is owned by corporate insiders.

Institutional Trading of SITE Centers

Several hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares during the last quarter. Covestor Ltd grew its holdings in SITE Centers by 483.2% during the fourth quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares during the period. Vestcor Inc purchased a new stake in SITE Centers in the third quarter worth $95,000. Van ECK Associates Corp raised its stake in shares of SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of SITE Centers during the 4th quarter valued at $148,000. Institutional investors own 88.70% of the company’s stock.

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.