Site Centers (NYSE:SITC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler raised its target on Site Centers to $6.00 from $5.50 while maintaining a "neutral" rating, implying about a 10.8% upside from the prior close.
• Analyst views are mixed: MarketBeat shows a consensus rating of "Reduce" with an average target of $8.00, while recent reports range from Weiss Ratings' "sell" to Wall Street Zen moving the stock to "hold."
• Fundamentals and ownership: SITC trades around $5.42 with a $284 million market cap and a P/E of 1.61, and it reported a surprise EPS beat ($2.55 vs. -$0.24 est.) despite revenue missing estimates; institutional investors own about 88.7% of the stock.

Site Centers (NYSE:SITC - Get Free Report) had its target price boosted by stock analysts at Piper Sandler from $5.50 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 10.80% from the stock's previous close.

Several other research firms have also recently weighed in on SITC. Weiss Ratings reissued a "sell (d)" rating on shares of Site Centers in a report on Friday, March 27th. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Site Centers presently has a consensus rating of "Reduce" and an average target price of $8.00.

Site Centers Stock Down 3.0%

Site Centers stock opened at $5.42 on Wednesday. The stock has a market cap of $284.07 million, a P/E ratio of 1.61 and a beta of 1.09. Site Centers has a twelve month low of $5.24 and a twelve month high of $13.10. The company's 50-day moving average price is $5.84 and its two-hundred day moving average price is $6.66.

Site Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $2.79. The firm had revenue of $17.51 million for the quarter, compared to analysts' expectations of $22.39 million. Site Centers had a net margin of 156.72% and a return on equity of 43.13%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SITC. Pensionfund Sabic bought a new position in shares of Site Centers during the fourth quarter worth approximately $32,000. Federated Hermes Inc. increased its holdings in shares of Site Centers by 1,792.1% during the third quarter. Federated Hermes Inc. now owns 4,560 shares of the company's stock worth $41,000 after purchasing an additional 4,319 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Site Centers by 4,078.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock worth $43,000 after purchasing an additional 3,671 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Site Centers by 380.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company's stock worth $45,000 after purchasing an additional 5,535 shares during the period. Finally, Pensionfund PDN bought a new position in shares of Site Centers during the fourth quarter worth approximately $48,000. 88.70% of the stock is owned by institutional investors.

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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