SITE Centers Corp. (NYSE:SITC) Receives $35.61 Consensus PT from Analysts

Shares of SITE Centers Corp. (NYSE:SITC) have earned an average rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $35.61.

Several research firms recently issued reports on SITC. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Citigroup decreased their price target 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. Wells Fargo & Company cut their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler decreased their target price on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th.

SITE Centers Stock Down 0.0 %

SITC opened at $12.80 on Friday. The company has a market capitalization of $670.84 million, a PE ratio of 0.94 and a beta of 1.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The business has a 50-day moving average of $14.35 and a 200-day moving average of $21.36.

SITE Centers (NYSE:SITC) last posted its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The business had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Equities research analysts forecast that SITE Centers will post 3.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.10% of the company’s stock.

Institutional Trading of SITE Centers

A number of hedge funds have recently bought and sold shares of SITC. Pacer Advisors Inc. bought a new stake in shares of SITE Centers in the fourth quarter valued at about $34,297,000. Invesco Ltd. lifted its position in shares of SITE Centers by 777.4% in the 4th quarter. Invesco Ltd. now owns 2,121,114 shares of the company’s stock worth $32,432,000 after acquiring an additional 1,879,351 shares during the period. Rush Island Management LP lifted its position in shares of SITE Centers by 161.0% in the 4th quarter. Rush Island Management LP now owns 1,582,301 shares of the company’s stock worth $24,193,000 after acquiring an additional 976,110 shares during the period. Man Group plc increased its position in shares of SITE Centers by 1,126.0% during the fourth quarter. Man Group plc now owns 771,623 shares of the company’s stock valued at $11,798,000 after purchasing an additional 708,685 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of SITE Centers by 3,701.4% in the fourth quarter. AQR Capital Management LLC now owns 727,672 shares of the company’s stock valued at $11,126,000 after purchasing an additional 708,530 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

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.