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

SITE Centers Corp. (NYSE:SITC) has been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $36.04.

SITC has been the subject of a number of research reports. Citigroup lowered their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Piper Sandler lowered their price target 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. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Finally, Compass Point dropped their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th.

Insiders Place Their Bets

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction dated Tuesday, December 10th. The stock was 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 owns 136,008 shares of the company’s stock, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,457 shares of company stock worth $2,791,693. Company insiders own 10.10% of the company’s stock.

Institutional Trading of SITE Centers

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new position in SITE Centers during the second quarter worth $42,000. Quarry LP grew 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 acquiring an additional 2,857 shares in the last quarter. Vestcor Inc bought a new position in shares of SITE Centers in the 3rd quarter valued at about $95,000. Evergreen Capital Management LLC acquired a new stake in shares of SITE Centers in the second quarter valued at about $167,000. Finally, Neo Ivy Capital Management bought a new stake in SITE Centers during the third quarter worth about $202,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Trading Up 0.9 %

Shares of NYSE SITC opened at $15.14 on Monday. SITE Centers has a 1-year low of $14.74 and a 1-year high of $64.44. The company has a 50-day moving average of $15.69 and a two-hundred day moving average of $91.92. The company has a market cap of $793.79 million, a PE ratio of 1.11 and a beta of 1.61. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers’s revenue was down 37.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 EPS. As a group, equities analysts expect that SITE Centers will post 3.36 earnings per share for the current fiscal year.

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.