SITE Centers (NYSE:SITC) Price Target Raised to $57.00

SITE Centers (NYSE:SITC) had its price target boosted by Morgan Stanley from $56.00 to $57.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also weighed in on SITC. Evercore ISI raised shares of SITE Centers to a hold rating in a report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on SITE Centers from $65.00 to $65.25 and gave the stock a buy rating in a research note on Thursday, September 19th. StockNews.com began coverage on SITE Centers in a research note on Sunday. They set a hold rating for the company. Piper Sandler upped their target price on SITE Centers from $256.00 to $288.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Finally, Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $110.54.

SITE Centers Stock Down 2.8 %

Shares of SITE Centers stock opened at $16.58 on Monday. The company has a fifty day moving average price of $121.23 and a 200 day moving average price of $191.11. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.70. SITE Centers has a twelve month low of $16.50 and a twelve month high of $64.44. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 16.25 and a beta of 1.64.

SITE Centers (NYSE:SITC) last posted its earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.84 by $13.92. The business had revenue of $113.48 million during the quarter, compared to analyst estimates of $113.23 million. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.64 earnings per share. Equities research analysts forecast that SITE Centers will post 3.63 earnings per share for the current fiscal year.

Institutional Trading of SITE Centers

Several institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of SITE Centers by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after buying an additional 976 shares during the period. Vanderbilt University boosted its stake in SITE Centers by 10.0% in the second quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after acquiring an additional 1,126 shares during the period. Louisiana State Employees Retirement System raised its position in shares of SITE Centers by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after purchasing an additional 1,500 shares during the period. Chilton Capital Management LLC lifted its holdings in shares of SITE Centers by 384.0% in the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after purchasing an additional 1,536 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in SITE Centers by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after buying an additional 1,723 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

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.