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

SITE Centers Corp. (NYSE:SITC) has been given an average rating of “Hold” by the nine research firms that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.25.

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

Institutional Trading of SITE Centers

Several institutional investors have recently modified their holdings of SITC. Vestcor Inc acquired a new stake in shares of SITE Centers in the third quarter valued at about $95,000. Neo Ivy Capital Management bought a new stake in SITE Centers in the third quarter valued at approximately $202,000. KBC Group NV increased its position in 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 purchasing an additional 2,193 shares during the period. Covestor Ltd raised its holdings in SITE Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock worth $57,000 after purchasing an additional 3,112 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of SITE Centers in the 3rd quarter worth approximately $244,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

NYSE:SITC opened at $11.60 on Wednesday. The company has a market cap of $607.93 million, a price-to-earnings ratio of 0.85 and a beta of 1.30. SITE Centers has a fifty-two week low of $10.46 and a fifty-two week high of $64.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The stock has a fifty day moving average price of $13.16 and a 200-day moving average price of $15.21.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, equities 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.