SITE Centers (NYSE:SITC - Get Free Report) had its target price reduced by Piper Sandler from $20.00 to $19.00 in a research note issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's price objective would indicate a potential upside of 40.90% from the stock's current price.
Several other equities analysts have also commented on SITC. Citigroup reduced their target price on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Wells Fargo & Company reduced their price objective on SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com upgraded SITE Centers from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, SITE Centers presently has an average rating of "Hold" and a consensus target price of $35.61.
Read Our Latest Analysis on SITE Centers
SITE Centers Price Performance
SITE Centers stock traded down $0.01 during midday trading on Friday, reaching $13.49. 982,176 shares of the stock were exchanged, compared to its average volume of 820,082. SITE Centers has a 52 week low of $13.30 and a 52 week high of $32.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The firm has a market cap of $707.02 million, a PE ratio of 0.99 and a beta of 1.63. The company's fifty day moving average is $14.96 and its 200-day moving average is $26.84.
SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million during the quarter, compared to analysts' expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, sell-side analysts forecast that SITE Centers will post 3.24 EPS for the current year.
Insider Buying and Selling at SITE Centers
In other news, CEO David R. Lukes sold 168,895 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the transaction, the chief executive officer now owns 136,008 shares of the company's stock, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,457 shares of company stock valued at $2,791,693. 10.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SITE Centers
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Two Sigma Advisers LP grew its stake in shares of SITE Centers by 543.6% in the 4th quarter. Two Sigma Advisers LP now owns 73,053 shares of the company's stock worth $1,117,000 after buying an additional 61,703 shares during the last quarter. Two Sigma Investments LP purchased a new stake in SITE Centers during the 4th quarter valued at about $4,340,000. Tidal Investments LLC bought a new stake in SITE Centers during the 4th quarter valued at about $504,000. Rush Island Management LP lifted its stake in shares of SITE Centers by 161.0% in the fourth quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock worth $24,193,000 after buying an additional 976,110 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in shares of SITE Centers by 44.5% in the fourth quarter. ProShare Advisors LLC now owns 14,307 shares of the company's stock worth $219,000 after buying an additional 4,405 shares in the last quarter. Institutional investors own 88.70% of the company's stock.
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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