SITE Centers (NYSE:SITC) Given New $65.25 Price Target at Stifel Nicolaus

SITE Centers (NYSE:SITC) had its price objective hoisted by Stifel Nicolaus from $65.00 to $65.25 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on SITC. Evercore ISI raised SITE Centers to a hold rating in a report on Wednesday, July 31st. Truist Financial boosted their target price on shares of SITE Centers from $56.00 to $58.00 and gave the company a hold rating in a research note on Wednesday, August 28th. Piper Sandler raised their price target 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 lifted their price objective on shares of SITE Centers from $64.00 to $68.00 and gave the company an overweight rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $131.05.

SITE Centers Trading Down 1.0 %

Shares of SITE Centers stock opened at $58.90 on Thursday. The stock has a market cap of $12.34 billion, a PE ratio of 57.75 and a beta of 1.64. The firm has a fifty day moving average price of $152.91 and a 200 day moving average price of $200.99. SITE Centers has a 1 year low of $43.52 and a 1 year high of $64.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, beating analysts’ consensus estimates of $3.84 by $13.92. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The business had revenue of $113.48 million during the quarter, compared to analyst estimates of $113.23 million. During the same quarter last year, the business posted $4.64 EPS. The company’s revenue was down 16.5% on a year-over-year basis. Equities research analysts predict that SITE Centers will post 3.67 earnings per share for the current year.

Insider Activity at SITE Centers

In other SITE Centers news, Director Alexander Otto sold 22,348 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $230.24, for a total transaction of $5,145,403.52. Following the completion of the transaction, the director now directly owns 1,036,436 shares in the company, valued at $238,629,024.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SITE Centers

Institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in shares of SITE Centers by 1.9% in the second quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after acquiring an additional 976 shares in the last quarter. Vanderbilt University lifted its holdings in SITE Centers by 10.0% in the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after purchasing an additional 1,126 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in SITE Centers by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 206,100 shares of the company’s stock worth $2,809,000 after purchasing an additional 1,246 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of SITE Centers by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after buying an additional 1,500 shares in the last quarter. Finally, Chilton Capital Management LLC raised its position in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock valued at $28,000 after buying an additional 1,536 shares during 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.