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

Shares of SITE Centers Corp. (NYSE:SITC) have been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $35.75.

Several equities research analysts recently weighed in on SITC shares. Wells Fargo & Company reduced their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler reduced their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Citigroup dropped 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. Finally, StockNews.com assumed coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating for the company.

SITE Centers Stock Down 2.9 %

SITC stock opened at $14.66 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers has a 52-week low of $14.55 and a 52-week high of $32.22. The company has a 50-day moving average of $15.16 and a two-hundred day moving average of $43.02. The stock has a market capitalization of $768.83 million, a price-to-earnings ratio of 1.07 and a beta of 1.60.

Insider Buying and Selling at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction on Tuesday, December 10th. The stock was 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 directly owns 136,008 shares in the company, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,457 shares of company stock valued at $2,791,693. 10.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SITE Centers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its position in shares of SITE Centers by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after purchasing an additional 730 shares in the last quarter. Van ECK Associates Corp lifted its position 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 worth $138,000 after purchasing an additional 833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of SITE Centers by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock worth $413,000 after purchasing an additional 1,011 shares in the last quarter. Deutsche Bank AG lifted its position in shares of SITE Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock worth $974,000 after purchasing an additional 1,195 shares in the last quarter. Finally, Vestcor Inc bought a new stake in shares of SITE Centers in the third quarter worth $95,000. 88.70% of the stock is 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.