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

Shares of SITE Centers Corp. (NYSE:SITC) 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.

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:SITC) 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

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.