SITE Centers Corp. (NYSE:SITC) Given Consensus Recommendation of "Hold" by Analysts

SITE Centers Corp. (NYSE:SITC - Get Free Report) has earned a consensus rating of "Hold" from the nine analysts that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $36.04.

SITC has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. KeyCorp reiterated a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. Piper Sandler lowered their target price on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Compass Point cut their price target on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd.

Insider Buying and Selling at SITE Centers

In related news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares of the company's stock, valued at $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is owned by company insiders.

Institutional Trading of SITE Centers

Several hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in SITE Centers in the third quarter worth $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company's stock valued at $19,612,000 after purchasing an additional 53,412 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of SITE Centers in the 4th quarter valued at about $606,000. Soros Fund Management LLC acquired a new stake in shares of SITE Centers in the third quarter valued at about $3,025,000. Finally, Jane Street Group LLC boosted its holdings in SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company's stock worth $11,085,000 after buying an additional 5,779 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Stock Up 1.8 %

NYSE SITC traded up $0.28 during trading hours on Friday, hitting $15.53. 596,526 shares of the company were exchanged, compared to its average volume of 828,214. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market cap of $813.98 million, a price-to-earnings ratio of 1.14 and a beta of 1.61. The company has a 50 day moving average of $15.39 and a two-hundred day moving average of $71.44. SITE Centers has a 52-week low of $14.55 and a 52-week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $89.43 million for the quarter, compared to analysts' expectations of $104.55 million. During the same quarter last year, the company earned $1.32 earnings per share. The firm's revenue was down 37.5% compared to the same quarter last year. Equities research analysts anticipate that SITE Centers will post 3.24 earnings per share for the current year.

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.