Analysts Set SITE Centers Corp. (NYSE:SITC) Price Target at $35.61

Shares of SITE Centers Corp. (NYSE:SITCGet Free Report) have been given an average recommendation of “Hold” by 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 price target among brokers that have updated their coverage on the stock in the last year is $35.61.

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup lowered their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company cut their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th.

Get Our Latest Report on SITC

Insider Buying and Selling at SITE Centers

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SITC. Los Angeles Capital Management LLC purchased a new position in shares of SITE Centers in the 3rd quarter valued at approximately $355,000. GSA Capital Partners LLP purchased a new stake in shares of SITE Centers in the 3rd quarter worth about $617,000. Quest Partners LLC grew its position in shares of SITE Centers by 1,046.5% in the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock worth $1,839,000 after buying an additional 27,743 shares during the period. Meeder Asset Management Inc. bought a new position in shares of SITE Centers in the 3rd quarter worth about $2,596,000. Finally, Landscape Capital Management L.L.C. purchased a new position in SITE Centers during the 3rd quarter valued at about $319,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

NYSE:SITC opened at $12.79 on Friday. SITE Centers has a 52-week low of $12.58 and a 52-week high of $64.44. The business’s fifty day moving average is $14.52 and its 200 day moving average is $22.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The firm has a market cap of $670.32 million, a price-to-earnings ratio of 0.94 and a beta of 1.63.

SITE Centers (NYSE:SITCGet Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. Research analysts predict that SITE Centers will post 3.24 EPS for the current year.

SITE Centers Company Profile

(Get Free Report

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.

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Analyst Recommendations for SITE Centers (NYSE:SITC)

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