SITE Centers Corp. (NYSE:SITC) Receives Consensus Recommendation of "Hold" from Analysts

SITE Centers Corp. (NYSE:SITC - Get Free Report) has earned a consensus recommendation of "Hold" from the nine ratings firms that are currently covering the firm, Marketbeat.com 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 1 year target price among brokers that have covered the stock in the last year is $35.25.

Several brokerages recently commented on SITC. Wells Fargo & Company dropped their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Piper Sandler dropped their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Wall Street Zen downgraded SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

SITE Centers Trading Down 0.2%

Shares of SITE Centers stock traded down $0.03 during trading hours on Thursday, reaching $11.90. The stock had a trading volume of 528,620 shares, compared to its average volume of 914,910. The firm has a 50 day simple moving average of $11.94 and a two-hundred day simple moving average of $13.78. The firm has a market capitalization of $623.83 million, a price-to-earnings ratio of 0.87 and a beta of 1.32. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 1 year low of $10.46 and a 1 year high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million during the quarter, compared to analysts' expectations of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business's revenue for the quarter was down 66.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that SITE Centers will post 3.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of SITE Centers in the first quarter valued at $114,000. Jane Street Group LLC acquired a new position in SITE Centers in the 1st quarter worth about $4,023,000. Caxton Associates LLP acquired a new position in SITE Centers in the 1st quarter worth about $5,037,000. Goldman Sachs Group Inc. boosted its stake in shares of SITE Centers by 88.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company's stock worth $9,313,000 after acquiring an additional 340,452 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SITE Centers by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company's stock worth $362,000 after acquiring an additional 1,185 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

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.