SITE Centers (NYSE:SITC) Price Target Increased to $57.00 by Analysts at Morgan Stanley

SITE Centers (NYSE:SITC) had its price target boosted by Morgan Stanley from $56.00 to $57.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

SITC has been the topic of several other reports. Truist Financial boosted their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a research note on Wednesday, August 28th. StockNews.com initiated coverage on SITE Centers in a research report on Sunday. They set a hold rating on the stock. Piper Sandler increased their target price on SITE Centers from $256.00 to $288.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price objective on SITE Centers from $64.00 to $68.00 and gave the company an overweight rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus raised their target price on SITE Centers from $65.00 to $65.25 and gave the stock a buy rating in a research note on Thursday, September 19th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $118.71.

SITE Centers Price Performance

NYSE:SITC opened at $60.50 on Monday. SITE Centers has a 52 week low of $43.52 and a 52 week high of $64.44. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $130.40 and its two-hundred day simple moving average is $193.81. The stock has a market cap of $12.68 billion, a PE ratio of 59.31 and a beta of 1.64.

SITE Centers (NYSE:SITC) last issued its earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $13.92. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The firm had revenue of $113.48 million for the quarter, compared to analysts’ expectations of $113.23 million. During the same period in the previous year, the firm posted $4.64 earnings per share. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that SITE Centers will post 3.63 EPS for the current fiscal year.

Institutional Investors Weigh In On SITE Centers

Institutional investors have recently modified their holdings of the business. Chilton Capital Management LLC boosted its holdings in SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after buying an additional 1,536 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of SITE Centers during the 2nd quarter valued at approximately $42,000. Quarry LP raised its position in SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in SITE Centers in the first quarter valued at approximately $147,000. Finally, Diversified Trust Co purchased a new stake in SITE Centers in the second quarter valued at approximately $152,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.