Brokerages Set SITE Centers Corp. (NYSE:SITC) Price Target at $131.05

Shares of SITE Centers Corp. (NYSE:SITC) have earned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $131.05.

A number of brokerages recently issued reports on SITC. Evercore ISI upgraded shares of SITE Centers to a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on shares of SITE Centers from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Truist Financial lifted 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 research note on Saturday, September 21st. They issued a “hold” rating for the company. Finally, Stifel Nicolaus lifted their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th.

SITE Centers Trading Down 0.5 %

NYSE SITC opened at $59.36 on Friday. The firm has a 50 day simple moving average of $141.74 and a 200-day simple moving average of $197.52. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.36 and a current ratio of 7.36. SITE Centers has a one year low of $43.52 and a one year high of $64.44. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 58.20 and a beta of 1.64.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 EPS for the quarter, beating the consensus estimate of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. 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 firm posted $4.64 earnings per share. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. Equities research analysts anticipate that SITE Centers will post 3.63 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On SITE Centers

Institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC increased its stake in SITE Centers by 384.0% in the 1st 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 period. Allspring Global Investments Holdings LLC acquired a new position in SITE Centers in the 2nd quarter valued at $42,000. Quarry LP increased its stake in SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in SITE Centers in the 1st quarter valued at $147,000. Finally, Diversified Trust Co purchased a new stake in shares of SITE Centers during the 2nd quarter worth $152,000. 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.