Citigroup Issues Pessimistic Forecast for SITE Centers (NYSE:SITC) Stock Price

SITE Centers (NYSE:SITC) had its price objective decreased by stock analysts at Citigroup from $18.00 to $16.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 4.10% from the stock’s current price.

Several other research firms have also issued reports on SITC. Morgan Stanley increased 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 report on Monday, September 30th. Piper Sandler dropped their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com started coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Compass Point dropped their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and a consensus target price of $36.04.

SITE Centers Stock Down 0.4 %

Shares of SITC opened at $15.37 on Monday. The company has a 50-day simple moving average of $16.36 and a 200-day simple moving average of $120.78. The firm has a market capitalization of $805.85 million, a P/E ratio of 1.13 and a beta of 1.61. 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 has a 52 week low of $15.26 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $1.32 earnings per share. On average, equities research analysts expect that SITE Centers will post 2.9 earnings per share for the current year.

Institutional Trading of SITE Centers

Several hedge funds have recently modified their holdings of the stock. World Investment Advisors LLC bought a new stake in shares of SITE Centers during the third quarter valued at approximately $622,000. Virtu Financial LLC bought a new position in SITE Centers in the third quarter valued at approximately $2,399,000. Neo Ivy Capital Management bought a new position in SITE Centers in the third quarter valued at approximately $202,000. Vestcor Inc bought a new position in SITE Centers in the third quarter valued at approximately $95,000. Finally, Jane Street Group LLC boosted its stake in SITE Centers by 3.3% in the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after acquiring an additional 5,779 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

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.