Site Centers Corp. (NYSE:SITC) Receives Average Rating of "Hold" from Analysts

Key Points

• Site Centers Corp. (NYSE:SITC) has received a consensus rating of "Hold" from eight analysts, with six holding the stock and two advising a buy. The average one-year price target is $35.25.
• Institutional investors have significantly increased their holdings in Site Centers, with GAMMA Investing LLC boosting its stake by 275.2% recently.
• The company reported quarterly earnings of $0.16 EPS, which met analysts' expectations, though revenue declined by 63.8% year-over-year, totaling $30.66 million.

Site Centers Corp. (NYSE:SITC - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $35.25.

A number of research analysts recently weighed in on SITC shares. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Piper Sandler reiterated an "overweight" rating on shares of Site Centers in a research report on Tuesday, July 8th.

Institutional Trading of Site Centers

A number of institutional investors have recently modified their holdings of SITC. GAMMA Investing LLC boosted its position in Site Centers by 275.2% during the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company's stock worth $27,000 after purchasing an additional 1,764 shares in the last quarter. Covestor Ltd boosted its position in Site Centers by 483.2% during the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after purchasing an additional 3,112 shares in the last quarter. AlphaQuest LLC boosted its position in Site Centers by 256.7% during the first quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock worth $62,000 after purchasing an additional 3,489 shares in the last quarter. Strs Ohio purchased a new stake in shares of Site Centers in the first quarter valued at $114,000. Finally, Savant Capital LLC purchased a new stake in shares of Site Centers in the second quarter valued at $119,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Site Centers Stock Up 1.2%

Shares of NYSE SITC opened at $11.36 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. Site Centers has a 12 month low of $10.45 and a 12 month high of $32.00. The firm has a market capitalization of $595.46 million, a PE ratio of 1.68 and a beta of 1.36. The firm has a fifty day simple moving average of $11.61 and a two-hundred day simple moving average of $12.46.

Site Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $30.66 million for the quarter, compared to the consensus estimate of $33.10 million. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. Site Centers's revenue for the quarter was down 63.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. Equities analysts expect that Site Centers will post 3.24 earnings per share for the current year.

Site Centers Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.50 dividend.

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.

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