Analysts Set SITE Centers Corp. (NYSE:SITC) PT at $35.25

SITE Centers Corp. (NYSE:SITC) has received a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $35.25.

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

Hedge Funds Weigh In On SITE Centers

A number of large investors have recently made changes to their positions in the business. Graham Capital Wealth Management LLC purchased a new position in SITE Centers during the fourth quarter valued at approximately $2,226,000. Advisors Preferred LLC acquired a new position in shares of SITE Centers in the fourth quarter worth $2,517,000. Geode Capital Management LLC raised its holdings in shares of SITE Centers by 18.4% during the fourth quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company’s stock worth $21,595,000 after acquiring an additional 219,636 shares in the last quarter. Amundi boosted its position in SITE Centers by 44.8% during the fourth quarter. Amundi now owns 49,206 shares of the company’s stock valued at $736,000 after purchasing an additional 15,227 shares during the last quarter. Finally, Assetmark Inc. grew its stake in SITE Centers by 287.1% in the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company’s stock valued at $1,372,000 after purchasing an additional 66,529 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Price Performance

Shares of SITE Centers stock opened at $12.03 on Friday. SITE Centers has a 52 week low of $10.46 and a 52 week high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $630.91 million, a PE ratio of 0.88 and a beta of 1.32. The company’s 50-day moving average price is $12.21 and its two-hundred day moving average price is $14.26.

SITE Centers (NYSE:SITC) last released its earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $40.35 million during the quarter, compared to the consensus estimate of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm’s revenue for the quarter was down 66.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, sell-side analysts anticipate that SITE Centers will post 3.24 EPS for the current fiscal year.

About SITE Centers

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.