SITE Centers Corp. (NYSE:SITC) Receives $35.25 Average Price Target from Analysts

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 Ratings 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 objective among brokerages that have issued a report on the stock in the last year is $35.25.

A number of equities research analysts have issued reports on SITC shares. Piper Sandler cut their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company decreased their price objective on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th.

Institutional Investors Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITC. Quantinno Capital Management LP bought a new position in shares of SITE Centers during the 3rd quarter valued at about $244,000. Jane Street Group LLC boosted its position in shares of SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock worth $11,085,000 after buying an additional 5,779 shares during the period. Vestcor Inc bought a new position in shares of SITE Centers during the 3rd quarter worth approximately $95,000. Neo Ivy Capital Management bought a new position in SITE Centers in the third quarter valued at $202,000. Finally, Virtu Financial LLC bought a new stake in SITE Centers during the third quarter worth about $2,399,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $11.33 on Wednesday. The firm has a market capitalization of $594.24 million, a P/E ratio of 0.83 and a beta of 1.30. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 52 week low of $10.46 and a 52 week high of $64.44. The firm’s 50 day moving average is $13.30 and its two-hundred day moving average is $15.57.

SITE Centers (NYSE:SITC) last released 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 firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Analysts anticipate that SITE Centers will post 3.24 earnings per share for the current 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.