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

Shares of SITE Centers Corp. (NYSE:SITC) have received a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $35.25.

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

Hedge Funds Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently bought and sold shares of SITC. KBC Group NV raised its position in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares during the last quarter. Covestor Ltd raised its position in shares of SITE Centers by 483.2% during the fourth 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 period. GAMMA Investing LLC lifted its stake in SITE Centers by 1,223.2% in the first quarter. GAMMA Investing LLC now owns 8,230 shares of the company’s stock valued at $106,000 after buying an additional 7,608 shares in the last quarter. Van ECK Associates Corp lifted its position in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after acquiring an additional 833 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of SITE Centers in the fourth quarter valued at about $148,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Trading Up 0.4 %

SITE Centers stock opened at $11.97 on Friday. SITE Centers has a 52-week low of $10.46 and a 52-week high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $627.77 million, a price-to-earnings ratio of 0.88 and a beta of 1.30. The firm has a 50-day moving average price of $12.40 and a two-hundred day moving average price of $14.43.

SITE Centers (NYSE:SITC) last announced 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). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Sell-side analysts expect that SITE Centers will post 3.24 earnings per share for the current 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.