SITE Centers Corp. (NYSE:SITC) Receives Average Rating of “Hold” from Brokerages

SITE Centers Corp. (NYSE:SITC) has been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.75.

SITC has been the subject of a number of analyst reports. StockNews.com initiated coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Piper Sandler cut their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut their price target 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, Citigroup dropped their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th.

Insider Activity at SITE Centers

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SITE Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITC. Blue Trust Inc. increased its stake in SITE Centers by 508.3% during the third quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock worth $386,000 after acquiring an additional 5,332 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in SITE Centers during the third quarter worth about $355,000. GSA Capital Partners LLP acquired a new stake in SITE Centers during the third quarter worth about $617,000. Quest Partners LLC boosted its position in shares of SITE Centers by 1,046.5% in the third 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. Finally, Meeder Asset Management Inc. purchased a new stake in shares of SITE Centers in the third quarter worth about $2,596,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Stock Down 0.6 %

SITC opened at $14.63 on Tuesday. The business’s fifty day moving average is $15.10 and its two-hundred day moving average is $38.01. 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 company has a market cap of $766.79 million, a price-to-earnings ratio of 1.07 and a beta of 1.60. SITE Centers has a one year low of $14.47 and a one year high of $32.22.

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.