SITE Centers (NYSE:SITC) Sees Large Volume Increase - Time to Buy?

Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) saw strong trading volume on Monday . 369,680 shares were traded during trading, a decline of 41% from the previous session's volume of 622,425 shares.The stock last traded at $16.83 and had previously closed at $16.88.

Wall Street Analysts Forecast Growth

Several research firms have commented on SITC. Evercore ISI raised shares of SITE Centers to a "hold" rating in a report on Wednesday, July 31st. Truist Financial lifted their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. Compass Point lowered their price objective on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Piper Sandler boosted their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, KeyCorp restated a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $97.18.

SITE Centers Trading Down 0.4 %

The business's 50 day simple moving average is $43.39 and its two-hundred day simple moving average is $165.71. The stock has a market cap of $3.52 billion, a P/E ratio of 16.49 and a beta of 1.64. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.70.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $17.76 earnings per share for the quarter, topping analysts' consensus estimates of $3.84 by $13.92. The firm had revenue of $113.48 million for the quarter, compared to analysts' expectations of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The company's revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.64 earnings per share. As a group, analysts expect that SITE Centers Corp. will post 3.39 EPS for the current year.

Institutional Trading of SITE Centers

Institutional investors have recently modified their holdings of the business. Chilton Capital Management LLC grew its stake in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company's stock worth $28,000 after purchasing an additional 1,536 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers in the second quarter worth $42,000. Quarry LP grew its stake in shares of SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company's stock worth $50,000 after purchasing an additional 2,857 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers in the first quarter worth $147,000. Finally, Diversified Trust Co bought a new stake in shares of SITE Centers in the second quarter worth $152,000. 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.