Site Centers Corp. (NYSE:SITC) Receives Consensus Recommendation 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.

Shares of Site Centers Corp. (NYSE:SITC - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight analysts that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $35.25.

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

Institutional Trading of Site Centers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in Site Centers by 18.4% during the 4th quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company's stock valued at $21,595,000 after purchasing an additional 219,636 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Site Centers by 26.5% during the fourth quarter. Wells Fargo & Company MN now owns 28,322 shares of the company's stock worth $433,000 after purchasing an additional 5,927 shares during the period. Invesco Ltd. grew its stake in shares of Site Centers by 777.4% during the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock worth $32,432,000 after purchasing an additional 1,879,351 shares during the period. Renaissance Technologies LLC grew its stake in shares of Site Centers by 17.9% during the fourth quarter. Renaissance Technologies LLC now owns 505,236 shares of the company's stock worth $7,725,000 after purchasing an additional 76,677 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in shares of Site Centers during the fourth quarter worth $2,317,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Site Centers Stock Performance

Shares of NYSE SITC traded down $0.03 during trading on Tuesday, reaching $11.45. The stock had a trading volume of 120,126 shares, compared to its average volume of 974,314. Site Centers has a one year low of $10.45 and a one year high of $32.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $600.44 million, a PE ratio of 1.69 and a beta of 1.36. The firm's 50 day moving average price is $11.59 and its two-hundred day moving average price is $12.42.

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

Site Centers Announces Dividend

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

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.