SITE Centers Corp. (NYSE:SITC) Receives $35.25 Consensus Target Price from Analysts

Shares of SITE Centers Corp. (NYSE:SITC) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, 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 12 month price target among brokerages that have issued a report on the stock in the last year is $35.25.

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th.

Institutional Investors Weigh In On SITE Centers

Several institutional investors and hedge funds have recently bought and sold shares of the business. World Investment Advisors LLC bought a new stake in SITE Centers in the third quarter valued at about $622,000. CWA Asset Management Group LLC bought a new stake in shares of SITE Centers in the 4th quarter valued at approximately $606,000. SG Americas Securities LLC raised its holdings in shares of SITE Centers by 72.4% in the 4th quarter. SG Americas Securities LLC now owns 28,130 shares of the company’s stock worth $430,000 after buying an additional 11,812 shares in the last quarter. Exchange Traded Concepts LLC boosted 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 valued at $288,000 after buying an additional 18,748 shares in the last quarter. Finally, KBC Group NV grew its position in SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after acquiring an additional 2,193 shares during the period. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 0.2 %

Shares of SITE Centers stock opened at $12.03 on Friday. SITE Centers has a 12-month low of $10.46 and a 12-month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $12.21 and a two-hundred day moving average price of $14.26. The stock has a market capitalization of $630.91 million, a P/E ratio of 0.88 and a beta of 1.32.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million during the quarter, compared to analyst estimates of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business’s quarterly revenue was down 66.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Equities analysts expect that SITE Centers will post 3.24 earnings per share for the current 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.