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

Shares of SITE Centers Corp. (NYSE:SITC) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.38.

SITC has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com initiated coverage on shares of SITE Centers in a research report on Wednesday. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley boosted their price target on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd.

Institutional Trading of SITE Centers

A number of large investors have recently added to or reduced their stakes in SITC. Allspring Global Investments Holdings LLC bought a new position in SITE Centers during the second quarter worth about $42,000. Quarry LP increased its position in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after acquiring an additional 2,857 shares during the period. Vestcor Inc bought a new position in SITE Centers during the third quarter worth about $95,000. Diversified Trust Co bought a new position in SITE Centers during the second quarter worth about $152,000. Finally, Evergreen Capital Management LLC bought a new position in SITE Centers during the second quarter worth about $167,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Trading Up 0.2 %

SITE Centers stock opened at $15.62 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock has a market capitalization of $818.96 million, a PE ratio of 1.14 and a beta of 1.61. SITE Centers has a 12-month low of $15.43 and a 12-month high of $64.44. The firm has a 50 day simple moving average of $19.90 and a 200-day simple moving average of $126.72.

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