Piper Sandler Has Lowered Expectations for Site Centers (NYSE:SITC) Stock Price

Key Points

• Piper Sandler cut Site Centers’ price target from $5.00 to $3.50 while maintaining a “neutral” rating, implying roughly 6% upside from the prior close.
• Analyst sentiment remains cautious: Site Centers has a consensus “Reduce” rating and a $6.75 target price, while its shares opened at $3.30—matching the stock’s one-year low.
• The company reported quarterly EPS of $0.02, beating estimates for a loss of $0.11, and revenue of $13.02 million versus $10.20 million expected; institutional investors own approximately 88.7% of the stock.

Site Centers (NYSE:SITC - Get Free Report) had its price target lowered by equities researchers at Piper Sandler from $5.00 to $3.50 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential upside of 6.03% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Site Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Site Centers to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Site Centers in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $6.75.

Site Centers Price Performance

Shares of NYSE:SITC opened at $3.30 on Tuesday. The firm has a market capitalization of $173.20 million, a PE ratio of 0.99 and a beta of 0.99. The firm's 50-day moving average is $4.59 and its two-hundred day moving average is $5.40. Site Centers has a 1 year low of $3.30 and a 1 year high of $12.39.

Site Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.13. The business had revenue of $13.02 million during the quarter, compared to analyst estimates of $10.20 million. Site Centers had a net margin of 212.95% and a return on equity of 47.95%. Analysts expect that Site Centers will post -0.15 EPS for the current fiscal year.

Institutional Trading of Site Centers

A number of large investors have recently made changes to their positions in SITC. Parallel Advisors LLC raised its holdings in Site Centers by 3,546.9% in the first quarter. Parallel Advisors LLC now owns 8,242 shares of the company's stock valued at $45,000 after acquiring an additional 8,016 shares in the last quarter. Bank of America Corp DE grew its holdings in Site Centers by 67.1% during the 1st quarter. Bank of America Corp DE now owns 248,854 shares of the company's stock worth $1,344,000 after acquiring an additional 99,934 shares in the last quarter. Rush Island Management LP grew its holdings in Site Centers by 11.4% during the 1st quarter. Rush Island Management LP now owns 4,445,666 shares of the company's stock worth $24,007,000 after acquiring an additional 456,032 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Site Centers by 22.6% in the 1st quarter. Quantinno Capital Management LP now owns 83,597 shares of the company's stock valued at $451,000 after purchasing an additional 15,427 shares during the last quarter. Finally, Modern Wealth Management LLC purchased a new stake in shares of Site Centers in the 1st quarter valued at approximately $94,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Site Centers Company Profile

Site Centers NYSE: SITC is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company's portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.

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