SITE Centers (NASDAQ:SITC) had its target price increased by research analysts at Citigroup from $13.50 to $14.50 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. Citigroup‘s price objective would indicate a potential upside of 1.33% from the company’s previous close.
Several other analysts have also recently issued reports on the stock. Stifel Nicolaus raised SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, November 21st. Compass Point cut shares of SITE Centers from a “neutral” rating to a “sell” rating and set a $13.50 price objective on the stock. in a research report on Monday, November 25th. Mizuho downgraded shares of SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 target price on the stock. in a research note on Friday, September 13th. Finally, Zacks Investment Research upgraded shares of SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.80.
Shares of SITC opened at $14.31 on Wednesday. SITE Centers has a fifty-two week low of $10.71 and a fifty-two week high of $15.85. The business has a 50-day moving average of $14.95 and a 200 day moving average of $14.11.
SITE Centers (NASDAQ:SITC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.22). The firm had revenue of $109.70 million during the quarter, compared to analysts’ expectations of $111.73 million. SITE Centers’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in SITC. Ladenburg Thalmann Financial Services Inc. grew its position in shares of SITE Centers by 37.3% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock worth $43,000 after buying an additional 896 shares during the last quarter. Phocas Financial Corp. bought a new stake in SITE Centers in the second quarter valued at $7,244,000. SRS Capital Advisors Inc. purchased a new position in SITE Centers during the 2nd quarter valued at $76,000. Chicago Equity Partners LLC purchased a new position in SITE Centers during the 2nd quarter valued at $132,000. Finally, Comerica Bank bought a new position in SITE Centers in the 3rd quarter worth $157,000.
About SITE Centers
SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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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