Piper Sandler Lowers Site Centers (NYSE:SITC) Price Target to $10.00

Site Centers (NYSE:SITC) had its target price dropped by investment analysts at Piper Sandler from $12.00 to $10.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 37.53% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research report on Tuesday, September 9th. They set a “neutral” rating and a $10.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Site Centers in a report on Thursday, October 30th. Finally, Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.63.

Site Centers Stock Performance

NYSE:SITC opened at $7.27 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $381.45 million, a PE ratio of 1.08 and a beta of 1.38. Site Centers has a fifty-two week low of $6.89 and a fifty-two week high of $16.51. The company has a fifty day moving average of $8.70 and a two-hundred day moving average of $10.70.

Institutional Investors Weigh In On Site Centers

Several hedge funds and other institutional investors have recently bought and sold shares of SITC. GAMMA Investing LLC boosted its holdings in Site Centers by 275.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock valued at $27,000 after purchasing an additional 1,764 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock worth $43,000 after buying an additional 3,671 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Site Centers by 1,792.1% during the 3rd quarter. Federated Hermes Inc. now owns 4,560 shares of the company’s stock valued at $41,000 after buying an additional 4,319 shares during the period. AlphaQuest LLC lifted its holdings in Site Centers by 256.7% in the first quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock valued at $62,000 after acquiring an additional 3,489 shares during the last quarter. Finally, Covestor Ltd grew its position in Site Centers by 61.7% in the first quarter. Covestor Ltd now owns 6,072 shares of the company’s stock worth $78,000 after acquiring an additional 2,316 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.