SITE Centers Corp. (NYSE:SITC) Given Average Recommendation of “Hold” by Analysts

Shares of SITE Centers Corp. (NYSE:SITC) have earned a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $36.04.

Several equities research analysts have recently commented on the stock. Piper Sandler decreased their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Citigroup reduced their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Compass Point reduced their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, StockNews.com began coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They set a “hold” rating for the company.

SITE Centers Price Performance

SITC stock opened at $15.32 on Friday. The firm has a market cap of $803.18 million, a price-to-earnings ratio of 1.12 and a beta of 1.61. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 12-month low of $14.55 and a 12-month high of $32.22. The company’s fifty day simple moving average is $15.38 and its 200 day simple moving average is $65.99.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million for the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, analysts expect that SITE Centers will post 3.24 earnings per share for the current year.

Insiders Place Their Bets

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the sale, the chief executive officer now directly owns 136,008 shares in the company, valued at $2,093,163.12. This represents a 55.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Insiders have sold 181,457 shares of company stock worth $2,791,693 in the last three months. 10.10% of the stock is currently owned by corporate insiders.

Institutional Trading of SITE Centers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP raised its position in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares in the last quarter. KBC Group NV raised its position in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares in the last quarter. Vestcor Inc purchased a new stake in shares of SITE Centers during the 3rd quarter valued at $95,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of SITE Centers during the 4th quarter valued at $163,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of SITE Centers during the 2nd quarter valued at $167,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.