Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $15.93 and last traded at $16.43, with a volume of 243947 shares. The stock had previously closed at $17.11.
Analysts Set New Price Targets
A number of research analysts have issued reports on SITC shares. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Truist Financial raised their price objective on SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Piper Sandler raised their price objective on SITE Centers from $256.00 to $288.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Morgan Stanley raised their price objective on SITE Centers from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Finally, Compass Point dropped their price objective on SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $97.18.
Check Out Our Latest Stock Analysis on SITE Centers
SITE Centers Stock Down 4.0 %
The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36. The firm has a 50-day simple moving average of $41.62 and a two-hundred day simple moving average of $162.83. The company has a market cap of $860.52 million, a PE ratio of 1.94 and a beta of 1.64.
SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.84 by $13.92. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The business had revenue of $113.48 million for the quarter, compared to analysts' expectations of $113.23 million. During the same quarter last year, the firm earned $4.64 earnings per share. The business's revenue was down 16.5% on a year-over-year basis. Research analysts anticipate that SITE Centers Corp. will post 3.39 earnings per share for the current fiscal year.
Institutional Investors Weigh In On SITE Centers
Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of SITE Centers by 508.3% during the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company's stock worth $386,000 after buying an additional 5,332 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in SITE Centers during the third quarter worth about $319,000. SG Americas Securities LLC raised its holdings in shares of SITE Centers by 115.1% in the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company's stock worth $987,000 after purchasing an additional 8,731 shares during the period. Quarry LP lifted its stake in shares of SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of SITE Centers by 65.0% during the 2nd quarter. Algert Global LLC now owns 411,910 shares of the company's stock worth $5,973,000 after purchasing an additional 162,260 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
SITE Centers Company Profile
(
Get Free Report)
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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