SITE CENTERS CORP. (NYSE:SITC) Receives Consensus Recommendation of "Hold" from Analysts

Shares of SITE CENTERS CORP. (NYSE:SITC - Get Free Report) have been given an average recommendation of "Hold" by the nine analysts that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $35.25.

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded SITE CENTERS from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Wells Fargo & Company dropped their price target on SITE CENTERS from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, 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 research report on Friday, February 28th.

Institutional Investors Weigh In On SITE CENTERS

Institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of SITE CENTERS by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after acquiring an additional 3,112 shares during the period. AlphaQuest LLC lifted its stake in SITE CENTERS by 256.7% in the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock valued at $62,000 after buying an additional 3,489 shares in the last quarter. GAMMA Investing LLC lifted its stake in 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 buying an additional 7,608 shares in the last quarter. Strs Ohio purchased a new stake in SITE CENTERS in the 1st quarter valued at approximately $114,000. Finally, Van ECK Associates Corp lifted its stake in SITE CENTERS by 10.2% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE CENTERS Stock Performance

SITC stock traded up $0.27 during trading on Monday, hitting $12.96. The company had a trading volume of 1,153,476 shares, compared to its average volume of 981,630. The firm has a market cap of $679.36 million, a PE ratio of 1.26 and a beta of 1.32. SITE CENTERS has a 1-year low of $10.46 and a 1-year high of $64.44. The firm has a 50-day moving average price of $12.02 and a 200-day moving average price of $13.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

SITE CENTERS (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $40.35 million during the quarter, compared to analyst estimates of $33.50 million. SITE CENTERS had a net margin of 201.78% and a return on equity of 39.38%. The business's revenue was down 66.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. On average, analysts expect that SITE CENTERS will post 3.24 earnings per share for the current year.

SITE CENTERS Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $1.50 dividend.

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.