KeyCorp Boosts SITE Centers (NYSE:SITC) Price Target to $17.00


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SITE Centers (NYSE:SITC) had its price target boosted by investment analysts at KeyCorp from $15.00 to $17.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target indicates a potential upside of 18.96% from the company’s previous close.

Several other analysts have also issued reports on SITC. Truist raised their price target on shares of SITE Centers from $11.00 to $13.00 in a research report on Wednesday, March 31st. Mizuho raised their price target on shares of SITE Centers from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday. Morgan Stanley raised their price target on shares of SITE Centers from $9.00 to $13.50 and gave the stock an “equal weight” rating in a research report on Wednesday, March 3rd. Piper Sandler upgraded shares of SITE Centers from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $11.00 to $13.00 in a research report on Thursday, January 14th. Finally, TheStreet upgraded shares of SITE Centers from a “d+” rating to a “c-” rating in a research report on Wednesday, March 17th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $10.96.

NYSE:SITC opened at $14.29 on Friday. SITE Centers has a 1 year low of $4.21 and a 1 year high of $14.82. The firm’s fifty day simple moving average is $13.66 and its 200 day simple moving average is $11.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $2.76 billion, a PE ratio of 89.31 and a beta of 1.66.

SITE Centers (NYSE:SITC) last posted its earnings results on Thursday, April 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.18). The firm had revenue of $119.90 million during the quarter, compared to analyst estimates of $110.13 million. SITE Centers had a net margin of 14.52% and a return on equity of 3.76%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. As a group, analysts anticipate that SITE Centers will post 0.98 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Veriti Management LLC bought a new position in SITE Centers during the 4th quarter valued at about $40,000. Van ECK Associates Corp lifted its holdings in SITE Centers by 33.2% during the 4th quarter. Van ECK Associates Corp now owns 6,153 shares of the company’s stock valued at $62,000 after purchasing an additional 1,534 shares during the last quarter. Teacher Retirement System of Texas bought a new position in SITE Centers during the 4th quarter valued at about $143,000. Profund Advisors LLC lifted its holdings in SITE Centers by 30.6% during the 4th quarter. Profund Advisors LLC now owns 14,632 shares of the company’s stock valued at $148,000 after purchasing an additional 3,429 shares during the last quarter. Finally, Truist Financial Corp bought a new position in SITE Centers during the 4th quarter valued at about $155,000. 81.57% of the stock is owned by hedge funds and other institutional investors.

About SITE Centers

SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

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Analyst Recommendations for SITE Centers (NYSE:SITC)

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