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

SITE Centers Corp. (NYSE:SITC) has been assigned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $35.75.

A number of research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com assumed coverage on SITE Centers in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Citigroup dropped their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Piper Sandler dropped their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th.

SITE Centers Trading Down 0.6 %

SITC opened at $14.63 on Tuesday. The business’s 50-day simple moving average is $15.10 and its 200-day simple moving average is $38.01. The company has a market cap of $766.79 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 quick ratio of 6.55 and a current ratio of 6.55. SITE Centers has a one year low of $14.47 and a one year high of $32.22.

Insiders Place Their Bets

In other news, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the sale, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,457 shares of company stock valued at $2,791,693. 10.10% of the stock is owned by company insiders.

Institutional Trading of SITE Centers

Several hedge funds have recently modified their holdings of SITC. Blue Trust Inc. lifted its holdings in shares of SITE Centers by 508.3% in the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock valued at $386,000 after buying an additional 5,332 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $355,000. GSA Capital Partners LLP acquired a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $617,000. Quest Partners LLC lifted its holdings in shares of SITE Centers by 1,046.5% in the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock valued at $1,839,000 after buying an additional 27,743 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $2,596,000. 88.70% of the stock is 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.