SITE Centers Corp. (NYSE:SITC) Receives Average Recommendation of "Hold" from Brokerages

SITE Centers Corp. (NYSE:SITC - Get Free Report) has received a consensus rating of "Hold" from the nine ratings firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.25.

A number of brokerages recently weighed in on SITC. StockNews.com downgraded shares of SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler lowered their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company cut their price target on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of SITE Centers by 10.2% during the fourth quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company's stock valued at $111,556,000 after purchasing an additional 675,190 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of SITE Centers during the 4th quarter worth about $34,297,000. Invesco Ltd. lifted its stake in shares of SITE Centers by 777.4% in the 4th quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock worth $32,432,000 after acquiring an additional 1,879,351 shares during the period. Rush Island Management LP boosted its holdings 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 valued at $24,193,000 after acquiring an additional 976,110 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of SITE Centers by 18.4% in the fourth quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company's stock valued at $21,595,000 after acquiring an additional 219,636 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

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SITE Centers Stock Down 0.5 %

NYSE SITC traded down $0.06 on Wednesday, hitting $11.33. 866,445 shares of the stock traded hands, compared to its average volume of 890,517. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $13.30 and a 200 day moving average of $15.57. SITE Centers has a twelve month low of $10.46 and a twelve month high of $64.44. The company has a market capitalization of $594.24 million, a P/E ratio of 0.83 and a beta of 1.30.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. As a group, analysts expect that SITE Centers will post 3.24 earnings per share for the current fiscal 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.