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

SITE Centers Corp. (NYSE:SITC) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $97.18.

Several research firms have recently weighed in on SITC. Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. StockNews.com began coverage on shares of SITE Centers in a report on Monday, October 7th. They issued a “buy” rating on the stock. KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Evercore ISI upgraded shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd.

SITE Centers Stock Performance

NYSE:SITC opened at $16.92 on Wednesday. The company’s 50-day moving average price is $61.67 and its 200-day moving average price is $171.56. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.70. The company has a market cap of $3.55 billion, a P/E ratio of 16.59 and a beta of 1.64. SITE Centers has a twelve month low of $16.27 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, topping the consensus estimate of $3.84 by $13.92. The firm had revenue of $113.48 million for 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 company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the firm posted $4.64 earnings per share. On average, sell-side analysts forecast that SITE Centers will post 3.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SITE Centers

Large investors have recently made changes to their positions in the stock. Chilton Capital Management LLC lifted its holdings in shares of SITE Centers by 384.0% in 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of SITE Centers in the 2nd quarter worth approximately $42,000. Quarry LP lifted 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 worth $50,000 after acquiring an additional 2,857 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in shares of SITE Centers in the 3rd quarter worth approximately $319,000. Finally, Blue Trust Inc. lifted its holdings in SITE Centers by 508.3% during the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock worth $386,000 after buying an additional 5,332 shares in the last quarter. 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.