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

SITE Centers Corp. (NYSE:SITC) has earned a consensus rating of “Hold” from the nine analysts that are presently covering the stock, MarketBeat.com 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 analysts that have covered the stock in the last year is $35.75.

Several brokerages recently issued reports on SITC. StockNews.com began coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They issued a “hold” rating for the company. Piper Sandler cut their target price 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. Citigroup cut their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th.

Insider Buying and Selling at SITE Centers

In other news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock worth $2,791,693 over the last three months. Company insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently modified their holdings of SITC. KBC Group NV raised its stake in shares of SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after acquiring an additional 2,193 shares during the last quarter. Covestor Ltd raised its stake in shares of SITE Centers by 483.2% during the fourth quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after acquiring an additional 3,112 shares during the last quarter. Vestcor Inc bought a new position in shares of SITE Centers during the third quarter valued at about $95,000. Van ECK Associates Corp raised its stake in shares of SITE Centers by 10.2% during the fourth 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 during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in SITE Centers in the fourth quarter worth about $148,000. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Down 0.0 %

SITC opened at $14.62 on Tuesday. The company has a fifty day moving average price of $15.08 and a 200-day moving average price of $34.96. The firm has a market capitalization of $766.26 million, a P/E ratio of 1.07 and a beta of 1.60. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers has a one year low of $14.47 and a one year high of $32.22.

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.