SITE Centers Corp. (NYSE:SITC) Given Average Rating of “Hold” by Analysts

SITE Centers Corp. (NYSE:SITC) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $131.05.

Several analysts recently commented on the company. Piper Sandler lifted their price objective on SITE Centers from $256.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI raised shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of SITE Centers from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Finally, Truist Financial increased their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th.

SITE Centers Trading Down 1.0 %

SITE Centers stock opened at $58.90 on Friday. SITE Centers has a one year low of $43.52 and a one year high of $64.44. The business’s fifty day moving average is $152.91 and its 200 day moving average is $201.14. The stock has a market capitalization of $12.34 billion, a PE ratio of 57.75 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, beating the consensus estimate of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The firm had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. During the same period in the previous year, the company earned $4.64 earnings per share. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. On average, sell-side analysts predict that SITE Centers will post 3.67 EPS for the current year.

Insider Transactions at SITE Centers

In other SITE Centers news, Director Alexander Otto sold 14,252 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $225.76, for a total transaction of $3,217,531.52. Following the sale, the director now directly owns 1,079,267 shares of the company’s stock, valued at $243,655,317.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 60,641 shares of company stock valued at $13,940,447 over the last three months. Corporate insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On SITE Centers

Several hedge funds have recently modified their holdings of SITC. Vanguard Personalized Indexing Management LLC boosted its position in shares of SITE Centers by 14.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,998 shares of the company’s stock valued at $204,000 after acquiring an additional 1,942 shares during the last quarter. Norges Bank purchased a new position in SITE Centers during the 4th quarter valued at $34,740,000. Assetmark Inc. boosted its stake in shares of SITE Centers by 3.5% during the fourth quarter. Assetmark Inc. now owns 86,650 shares of the company’s stock valued at $1,181,000 after purchasing an additional 2,958 shares during the period. Franklin Resources Inc. grew its stake in SITE Centers by 18.7% in the 4th quarter. Franklin Resources Inc. now owns 478,712 shares of the company’s stock worth $6,525,000 after acquiring an additional 75,402 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in SITE Centers by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 206,100 shares of the company’s stock worth $2,809,000 after purchasing an additional 1,246 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.