SITE Centers Corp. (NYSE:SITC) Receives $36.04 Consensus Price Target from Analysts

SITE Centers Corp. (NYSE:SITC) has earned an average rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.04.

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th. KeyCorp reaffirmed a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Morgan Stanley increased their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Compass Point reduced their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut shares of SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd.

SITE Centers Stock Performance

Shares of SITC stock opened at $15.14 on Monday. The company has a fifty day moving average price of $15.69 and a two-hundred day moving average price of $91.92. SITE Centers has a one year low of $14.74 and a one year high of $64.44. The stock has a market cap of $793.79 million, a P/E ratio of 1.11 and a beta of 1.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

SITE Centers (NYSE:SITC) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period last year, the business posted $1.32 EPS. SITE Centers’s revenue was down 37.5% on a year-over-year basis. As a group, equities analysts predict that SITE Centers will post 3.36 EPS for the current year.

Insiders Place Their Bets

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Insiders have sold a total of 181,457 shares of company stock worth $2,791,693 in the last quarter. Corporate insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SITC. Meeder Asset Management Inc. acquired a new stake in shares of SITE Centers in the 3rd quarter valued at $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in SITE Centers by 19.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after buying an additional 53,412 shares in the last quarter. Soros Fund Management LLC bought a new position in SITE Centers in the third quarter valued at about $3,025,000. Jane Street Group LLC raised its stake in SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock worth $11,085,000 after acquiring an additional 5,779 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of SITE Centers in the third quarter worth about $2,399,000. 88.70% of the stock is owned by 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.