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

SITE Centers Corp. (NYSE:SITC) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.25.

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

SITE Centers Trading Down 0.5 %

Shares of SITC opened at $11.33 on Wednesday. The firm has a 50-day moving average price of $13.30 and a 200 day moving average price of $15.57. SITE Centers has a 12-month low of $10.46 and a 12-month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $594.24 million, a P/E ratio of 0.83 and a beta of 1.30.

SITE Centers (NYSE:SITC) last announced its earnings results 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). The company had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Sell-side analysts forecast that SITE Centers will post 3.24 EPS for the current year.

Institutional Investors Weigh In On SITE Centers

Hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund increased its position in SITE Centers by 3.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after purchasing an additional 730 shares in the last quarter. Van ECK Associates Corp lifted its position 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 worth $138,000 after purchasing an additional 833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in SITE Centers by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock valued at $413,000 after buying an additional 1,011 shares during the last quarter. Deutsche Bank AG boosted its holdings in SITE Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock valued at $974,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Vestcor Inc purchased a new position in shares of SITE Centers during the 3rd quarter valued at approximately $95,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.