Site Centers (NYSE:SITC) Price Target Cut to $5.50 by Analysts at Piper Sandler

Key Points

• Piper Sandler cut its price target on Site Centers from $6.50 to $5.50 and kept a "neutral" rating, implying only about a 3.3% upside from the current share price.
• SITC reported a surprising $2.55 EPS beat despite revenue missing estimates, but the stock trades near its 1‑year low (around $5.33) with a market cap of ~$279M and a low P/E of 1.58, while the consensus analyst view remains "Reduce" with a $7.75 target.
• Institutional activity has been significant—Goldman Sachs notably increased its stake and overall hedge funds/institutions now own about 88.7% of the company’s shares.

Site Centers (NYSE:SITC - Get Free Report) had its price target cut by Piper Sandler from $6.50 to $5.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's target price would indicate a potential upside of 3.29% from the stock's current price.

SITC has been the topic of several other research reports. Wall Street Zen upgraded Site Centers from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings restated a "sell (d)" rating on shares of Site Centers in a research report on Friday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $7.75.

Site Centers Stock Down 1.4%

SITC traded down $0.08 during trading on Wednesday, reaching $5.33. The company's stock had a trading volume of 307,405 shares, compared to its average volume of 964,618. The firm has a fifty day simple moving average of $6.09 and a two-hundred day simple moving average of $7.02. The company has a market cap of $279.35 million, a price-to-earnings ratio of 1.58 and a beta of 1.06. Site Centers has a 1 year low of $5.24 and a 1 year high of $13.10.

Site Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $2.55 EPS for the quarter, beating the consensus estimate of ($0.24) by $2.79. The firm had revenue of $17.51 million during the quarter, compared to analysts' expectations of $22.39 million. Site Centers had a return on equity of 43.13% and a net margin of 156.72%. As a group, equities analysts forecast that Site Centers will post 3.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Site Centers

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SITC. Royal Bank of Canada grew its holdings in shares of Site Centers by 11.5% during the 1st quarter. Royal Bank of Canada now owns 139,626 shares of the company's stock worth $1,793,000 after purchasing an additional 14,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Site Centers by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company's stock valued at $362,000 after buying an additional 1,185 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Site Centers by 88.5% during the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company's stock worth $9,313,000 after buying an additional 340,452 shares during the period. Jane Street Group LLC purchased a new position in Site Centers during the first quarter worth about $4,023,000. Finally, Strs Ohio acquired a new stake in shares of Site Centers during the first quarter valued at about $114,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Site Centers Company Profile

Site Centers NYSE: SITC is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company's portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.

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