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

Shares of SITE Centers Corp. (NYSE:SITC) have been given a consensus rating of “Hold” by the ten ratings firms that are covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $58.89.

Several equities analysts have commented on the stock. Compass Point decreased their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Stifel Nicolaus increased their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. Piper Sandler reduced their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Morgan Stanley increased their target price on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, StockNews.com upgraded SITE Centers from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd.

SITE Centers Trading Down 0.9 %

Shares of NYSE:SITC opened at $15.62 on Friday. SITE Centers has a 52-week low of $15.52 and a 52-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 company has a market capitalization of $818.96 million, a P/E ratio of 1.14 and a beta of 1.62. The company has a 50-day simple moving average of $30.23 and a 200 day simple moving average of $144.87.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business’s revenue was down 37.5% on a year-over-year basis. During the same period last year, the firm posted $1.32 earnings per share. Sell-side analysts forecast that SITE Centers will post 2.9 earnings per share for the current year.

Institutional Investors Weigh In On SITE Centers

A number of large investors have recently bought and sold shares of the company. Chilton Capital Management LLC boosted its position in shares of SITE Centers by 384.0% during the 1st quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers in the 2nd quarter valued at $42,000. Quarry LP boosted its holdings in shares of SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares in the last quarter. Vestcor Inc acquired a new position in shares of SITE Centers during the 3rd quarter worth $95,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in shares of SITE Centers during the 1st quarter worth $147,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.