Brokerages Set SITE Centers Corp. (NYSE:SITC) Target Price at $36.04

Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) have been given an average rating of "Hold" by the ten brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.04.

SITC has been the subject of several recent analyst reports. StockNews.com began coverage on SITE Centers in a research note on Wednesday, December 4th. They set a "hold" rating for the company. Stifel Nicolaus raised their price objective on SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Compass Point dropped their price target 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. Finally, Wells Fargo & Company lowered shares of SITE Centers from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd.

SITE Centers Price Performance

SITE Centers stock traded down $0.04 during midday trading on Monday, reaching $14.97. The company had a trading volume of 717,126 shares, compared to its average volume of 768,741. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers has a 12-month low of $14.74 and a 12-month high of $64.44. The company has a market capitalization of $784.88 million, a P/E ratio of 1.10 and a beta of 1.61. The firm's fifty day simple moving average is $15.86 and its 200-day simple moving average is $99.56.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million for the quarter, compared to analysts' expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm's quarterly revenue was down 37.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 EPS. As a group, equities analysts anticipate that SITE Centers will post 3.36 EPS for the current year.

Insider Activity at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David R. Lukes sold 168,895 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were 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 in the company, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock valued at $2,791,693 over the last ninety days. Insiders own 10.10% of the company's stock.

Hedge Funds Weigh In On SITE Centers

A number of large investors have recently bought and sold shares of SITC. World Investment Advisors LLC acquired a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $622,000. Virtu Financial LLC purchased a new stake in shares of SITE Centers during the 3rd quarter worth $2,399,000. Neo Ivy Capital Management acquired a new position in shares of SITE Centers during the 3rd quarter worth $202,000. Vestcor Inc purchased a new position in shares of SITE Centers in the 3rd quarter valued at about $95,000. Finally, Jane Street Group LLC lifted its stake in shares of SITE Centers by 3.3% in the third quarter. Jane Street Group LLC now owns 183,217 shares of the company's stock valued at $11,085,000 after purchasing an additional 5,779 shares during the period. Hedge funds and other 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.