SITE Centers Corp. (NYSE:SITC) Given Average Rating of "Hold" by Analysts

Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) have been given a consensus recommendation of "Hold" by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.25.

A number of research firms have recently weighed in on SITC. Piper Sandler lowered their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. StockNews.com downgraded SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th.

SITE Centers Price Performance

NYSE SITC remained flat at $12.05 on Friday. 77,643 shares of the company's stock were exchanged, compared to its average volume of 881,115. The firm has a market cap of $631.96 million, a PE ratio of 0.88 and a beta of 1.32. SITE Centers has a twelve month low of $10.45 and a twelve month high of $32.22. The stock has a 50 day moving average price of $12.24 and a 200-day moving average price of $14.31. 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 (NYSE:SITC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's revenue for the quarter was down 66.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. As a group, analysts anticipate that SITE Centers will post 3.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its position in SITE Centers by 3.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock valued at $385,000 after buying an additional 730 shares during the period. Van ECK Associates Corp raised its stake in SITE Centers by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after buying an additional 833 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of SITE Centers by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock worth $413,000 after acquiring an additional 1,011 shares during the last quarter. Deutsche Bank AG raised its position in shares of SITE Centers by 1.9% in the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock worth $974,000 after purchasing an additional 1,195 shares during the last quarter. Finally, MetLife Investment Management LLC grew its position in SITE Centers by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 30,425 shares of the company's stock valued at $465,000 after purchasing an additional 1,598 shares during the last quarter. Hedge funds and other institutional investors 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.