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

SITE Centers Corp. (NYSE:SITC) has received an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $97.18.

SITC has been the topic of a number of research analyst reports. StockNews.com started coverage on SITE Centers in a research report on Monday, October 7th. They set a “buy” rating on the stock. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Stifel Nicolaus upped their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Piper Sandler raised their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd.

SITE Centers Stock Down 0.2 %

Shares of NYSE SITC opened at $16.78 on Wednesday. SITE Centers has a 52-week low of $16.50 and a 52-week high of $64.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.36 and a current ratio of 7.36. The business has a fifty day moving average of $66.17 and a two-hundred day moving average of $173.01. The stock has a market cap of $3.52 billion, a PE ratio of 16.45 and a beta of 1.64.

SITE Centers (NYSE:SITC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $13.92. The firm had revenue of $113.48 million during the quarter, compared to the consensus estimate of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $4.64 EPS. As a group, equities research analysts expect that SITE Centers will post 3.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SITE Centers

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in SITE Centers by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 30,339,767 shares of the company’s stock worth $413,531,000 after acquiring an additional 608,996 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of SITE Centers during the fourth quarter worth $526,000. Pensionfund Sabic increased its holdings in SITE Centers by 100.0% in the first quarter. Pensionfund Sabic now owns 20,000 shares of the company’s stock valued at $293,000 after purchasing an additional 10,000 shares during the last quarter. Principal Financial Group Inc. lifted its stake in SITE Centers by 13.5% in the first quarter. Principal Financial Group Inc. now owns 1,066,843 shares of the company’s stock valued at $15,629,000 after buying an additional 127,278 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in SITE Centers by 21.4% during the first quarter. BNP Paribas Financial Markets now owns 96,225 shares of the company’s stock worth $1,410,000 after buying an additional 16,969 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

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.