Analysts Set SITE Centers Corp. (NYSE:SITC) Target Price at $36.04

Shares of SITE Centers Corp. (NYSE:SITC) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $36.04.

A number of analysts recently weighed in on SITC shares. Compass Point decreased their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, Citigroup decreased their target price 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.

Insider Buying and Selling

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the business’s 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 filing with the SEC, which is available through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,457 shares of company stock worth $2,791,693 in the last ninety days. 10.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in SITE Centers by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock worth $39,426,000 after purchasing an additional 31,529 shares in the last quarter. APG Asset Management US Inc. boosted its position in shares of SITE Centers by 145.0% during the 2nd quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after acquiring an additional 535,550 shares in the last quarter. Renaissance Technologies LLC increased its stake in SITE Centers by 6.8% in the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after acquiring an additional 56,013 shares during the period. Bank of Montreal Can raised its position in SITE Centers by 3,017.5% in the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock worth $11,081,000 after purchasing an additional 739,174 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in SITE Centers by 65.0% during the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after purchasing an additional 162,260 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Performance

NYSE SITC opened at $15.29 on Monday. The company has a market capitalization of $801.65 million, a PE ratio of 1.12 and a beta of 1.61. SITE Centers has a twelve month low of $14.74 and a twelve month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $15.80 and its 200 day moving average price is $96.48.

SITE Centers (NYSE:SITC) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $89.43 million for the quarter, compared to analyst estimates of $104.55 million. During the same period last year, the company posted $1.32 EPS. The business’s quarterly revenue was down 37.5% on a year-over-year basis. On average, research analysts predict that SITE Centers will post 3.36 earnings per share for the current year.

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.