Site Centers (NYSE:SITC) Price Target Lowered to $10.00 at Piper Sandler

Site Centers (NYSE:SITC) had its price objective reduced by investment analysts at Piper Sandler from $12.00 to $10.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 37.53% from the stock’s previous close.

Other analysts have also issued research reports about the company. Wall Street Zen lowered Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday. LADENBURG THALM/SH SH started coverage on Site Centers in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Site Centers in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Site Centers has a consensus rating of “Hold” and an average target price of $12.63.

Site Centers Price Performance

Site Centers stock opened at $7.27 on Monday. The company’s 50 day simple moving average is $8.70 and its 200-day simple moving average is $10.70. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. Site Centers has a 1 year low of $6.89 and a 1 year high of $16.51. The company has a market capitalization of $381.45 million, a price-to-earnings ratio of 1.08 and a beta of 1.38.

Institutional Investors Weigh In On Site Centers

Hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of Site Centers during the third quarter worth about $110,000. JPMorgan Chase & Co. lifted its stake in Site Centers by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 561,110 shares of the company’s stock worth $5,056,000 after acquiring an additional 88,398 shares during the last quarter. Assetmark Inc. grew its holdings in Site Centers by 25.7% during the 3rd quarter. Assetmark Inc. now owns 247,595 shares of the company’s stock worth $2,231,000 after acquiring an additional 50,642 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Site Centers by 27.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 204,568 shares of the company’s stock worth $1,843,000 after acquiring an additional 43,920 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Site Centers in the 3rd quarter valued at approximately $282,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.