Site Centers Corp. (NYSE:SITC) Given Consensus Rating of “Hold” by Analysts

Site Centers Corp. (NYSE:SITC) has been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned 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 $12.6250.

SITC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Site Centers from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler dropped their price objective on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Tuesday. Finally, LADENBURG THALM/SH SH began coverage on Site Centers in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 target price for the company.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SITC. Jacobs Levy Equity Management Inc. raised its stake in Site Centers by 196.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 442,801 shares of the company’s stock worth $3,990,000 after buying an additional 293,433 shares during the last quarter. Caxton Associates LLP boosted its position in shares of Site Centers by 13.0% during the 3rd quarter. Caxton Associates LLP now owns 195,708 shares of the company’s stock worth $1,763,000 after purchasing an additional 22,454 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in shares of Site Centers in the 3rd quarter valued at about $380,000. Public Employees Retirement System of Ohio increased its position in Site Centers by 61.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 151,196 shares of the company’s stock valued at $1,362,000 after buying an additional 57,401 shares in the last quarter. Finally, Newtyn Management LLC raised its stake in Site Centers by 76.1% during the 3rd quarter. Newtyn Management LLC now owns 1,936,630 shares of the company’s stock worth $17,449,000 after buying an additional 836,630 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Site Centers Price Performance

NYSE SITC opened at $7.39 on Thursday. The stock has a 50-day simple moving average of $8.13 and a 200 day simple moving average of $10.26. 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 $387.48 million, a PE ratio of 1.09 and a beta of 1.38. Site Centers has a twelve month low of $6.76 and a twelve month high of $16.09.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 31st were paid a $1.00 dividend. The ex-dividend date was Friday, October 31st. Site Centers’s dividend payout ratio is currently 92.86%.

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.