Analysts Set SITE Centers Corp. (NYSE:SITC) Price Target at $58.89

Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) have received an average recommendation of "Hold" from the ten research firms that are currently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $58.89.

A number of brokerages have commented on SITC. 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 research note on Monday, September 30th. Truist Financial lifted their target price on shares of SITE Centers from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Stifel Nicolaus increased their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a research report on Thursday, September 19th. Evercore ISI upgraded shares of SITE Centers to a "hold" rating in a research report on Wednesday, July 31st. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th.

SITE Centers Trading Down 0.4 %

Shares of SITC traded down $0.06 during mid-day trading on Friday, reaching $15.86. The company's stock had a trading volume of 1,651,431 shares, compared to its average volume of 1,496,307. SITE Centers has a 52 week low of $15.81 and a 52 week high of $64.44. The stock has a market cap of $831.54 million, a PE ratio of 1.16 and a beta of 1.62. The company's fifty day moving average price is $34.45 and its two-hundred day moving average price is $151.45. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping 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 business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm's revenue for the quarter was down 37.5% on a year-over-year basis. On average, analysts predict that SITE Centers will post 2.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SITE Centers

A number of institutional investors have recently bought and sold shares of SITC. Chilton Capital Management LLC raised its holdings in 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 in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of SITE Centers in the 2nd quarter worth about $42,000. Quarry LP increased 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 worth $50,000 after acquiring an additional 2,857 shares in the last quarter. AlphaMark Advisors LLC purchased a new position in SITE Centers during the 3rd quarter valued at about $319,000. Finally, Landscape Capital Management L.L.C. bought a new stake in SITE Centers during the third quarter worth about $319,000. 88.70% of the stock is owned by institutional investors.

About SITE Centers

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.