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

Shares of SITE Centers Corp. (NYSE:SITC) have been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $36.04.

SITC has been the topic of several recent research reports. Piper Sandler reduced their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Citigroup lowered their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. StockNews.com began coverage on shares of SITE Centers in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Compass Point decreased their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th.

SITE Centers Price Performance

SITC stock opened at $15.25 on Friday. The stock has a market capitalization of $799.30 million, a price-to-earnings ratio of 1.12 and a beta of 1.61. The firm’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $72.94. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 12-month low of $14.55 and a 12-month high of $64.44.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The firm had revenue of $89.43 million for the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period last year, the company earned $1.32 EPS. As a group, equities analysts predict that SITE Centers will post 3.24 earnings per share for the current year.

Insider Transactions at SITE Centers

In other news, Director Dawn M. Sweeney sold 3,768 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This trade represents a 11.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,457 shares of company stock worth $2,791,693 in the last three months. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITC. Baader Bank Aktiengesellschaft bought a new position in shares of SITE Centers during the 4th quarter valued at about $163,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of SITE Centers in the fourth quarter worth about $5,401,000. Pacer Advisors Inc. bought a new position in SITE Centers during the fourth quarter valued at approximately $34,297,000. KBC Group NV grew its holdings in SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in SITE Centers by 33,478.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,804 shares of the company’s stock worth $288,000 after acquiring an additional 18,748 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

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.