SITE Centers Corp. (NYSE:SITC) Receives $58.89 Consensus Target Price from Analysts

Shares of SITE Centers Corp. (NYSE:SITC) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $58.89.

Several brokerages have issued reports on SITC. Piper Sandler reduced their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Morgan Stanley upped their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Compass Point decreased their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITC. Chilton Capital Management LLC grew its position in shares of 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. Nisa Investment Advisors LLC raised its holdings in SITE Centers by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company’s stock worth $1,282,000 after purchasing an additional 1,894 shares in the last quarter. TCW Group Inc. lifted its position in shares of SITE Centers by 91.6% in the 2nd quarter. TCW Group Inc. now owns 214,796 shares of the company’s stock worth $3,115,000 after purchasing an additional 102,673 shares during the period. Diversified Trust Co bought a new stake in shares of SITE Centers during the 2nd quarter valued at about $152,000. Finally, Vanderbilt University increased its position in shares of SITE Centers by 10.0% during the second quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after buying an additional 1,126 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 0.9 %

Shares of NYSE:SITC opened at $15.75 on Friday. The firm has a market capitalization of $825.77 million, a PE ratio of 1.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers has a 52-week low of $15.61 and a 52-week high of $64.44. The firm has a fifty day moving average of $31.90 and a 200 day moving average of $147.69.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company’s revenue was down 37.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 earnings per share. As a group, research analysts anticipate that SITE Centers will post 2.9 EPS for the current fiscal 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.