Site Centers Corp. (NYSE:SITC) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Site Centers Corp. has received an average consensus rating of "Hold" from six brokerage firms, with five ratings as hold and one as buy, while the average 12-month price target is $15.30.
• Shares of Site Centers have increased by 1.8%, with a current stock price of $9.02, significantly lower than its 1-year high of $18.15.
• The company recently declared a special $3.25 dividend per share, further indicating shareholder returns are a focus despite a 63.8% decline in revenue year-over-year.

Site Centers Corp. (NYSE:SITC - Get Free Report) has earned an average recommendation of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.30.

A number of equities analysts recently issued reports on SITC shares. LADENBURG THALM/SH SH started coverage on Site Centers in a research note on Tuesday, September 9th. They issued a "neutral" rating and a $10.00 target price for the company. Piper Sandler reiterated an "overweight" rating on shares of Site Centers in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Site Centers from a "sell" rating to a "hold" rating in a research note on Friday, June 6th.

Site Centers Stock Up 1.8%

Shares of SITC stock opened at $9.02 on Wednesday. Site Centers has a 1-year low of $8.57 and a 1-year high of $18.15. The stock's fifty day moving average price is $10.44 and its 200 day moving average price is $11.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $473.01 million, a price-to-earnings ratio of 1.33 and a beta of 1.40.

Site Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, meeting analysts' consensus estimates of $0.16. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.The company had revenue of $30.66 million during the quarter, compared to analysts' expectations of $33.10 million. During the same period last year, the business posted $0.27 earnings per share. The firm's revenue was down 63.8% compared to the same quarter last year. On average, research analysts expect 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 Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $3.25 per share. The ex-dividend date of this dividend was Tuesday, September 2nd.

Institutional Investors Weigh In On Site Centers

Several hedge funds have recently bought and sold shares of SITC. Bank of America Corp DE boosted its holdings in Site Centers by 106.6% during the fourth quarter. Bank of America Corp DE now owns 95,158 shares of the company's stock worth $1,455,000 after buying an additional 49,091 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Site Centers by 1,223.2% in the 1st quarter. GAMMA Investing LLC now owns 8,230 shares of the company's stock valued at $106,000 after purchasing an additional 7,608 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Site Centers in the 1st quarter worth about $465,000. SG Americas Securities LLC boosted its position in Site Centers by 111.1% during the first quarter. SG Americas Securities LLC now owns 59,376 shares of the company's stock worth $762,000 after purchasing an additional 31,246 shares in the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Site Centers by 35.1% in the first quarter. CWA Asset Management Group LLC now owns 53,521 shares of the company's stock valued at $687,000 after purchasing an additional 13,905 shares during the period. 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.

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