Site Centers Corp. (NYSE:SITC) Given Consensus Rating of “Hold” by Brokerages

Shares of Site Centers Corp. (NYSE:SITC) have earned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.25.

A number of equities analysts have recently issued reports on SITC shares. Wells Fargo & Company dropped their price target on Site Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th.

Institutional Trading of Site Centers

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Site Centers by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock worth $413,000 after acquiring an additional 1,011 shares during the last quarter. Deutsche Bank AG lifted its position in Site Centers by 1.9% during the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock worth $974,000 after buying an additional 1,195 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in Site Centers by 7.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company’s stock worth $259,000 after buying an additional 1,486 shares in the last quarter. American Century Companies Inc. lifted its position in Site Centers by 12.3% during the first quarter. American Century Companies Inc. now owns 13,864 shares of the company’s stock worth $178,000 after buying an additional 1,516 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Site Centers by 5.5% during the fourth quarter. MetLife Investment Management LLC now owns 30,425 shares of the company’s stock worth $465,000 after buying an additional 1,598 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Site Centers Stock Performance

NYSE:SITC opened at $11.25 on Friday. The stock’s fifty day moving average is $11.94 and its 200 day moving average is $12.97. Site Centers has a fifty-two week low of $10.46 and a fifty-two week high of $64.44. The firm has a market capitalization of $589.85 million, a PE ratio of 1.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $40.35 million for the quarter, compared to analysts’ expectations of $33.50 million. Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The business’s quarterly revenue was down 66.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that Site Centers will post 3.24 earnings per share for the current year.

Site Centers Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $1.50 dividend.

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.