SITE Centers (NYSE:SITC) Price Target Cut to $14.50 by Analysts at Wells Fargo & Company

SITE Centers (NYSE:SITC - Get Free Report) had its price target reduced by equities research analysts at Wells Fargo & Company from $17.00 to $14.50 in a report released on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 14.76% from the company's previous close.

A number of other analysts have also issued reports on SITC. StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler dropped their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Citigroup cut their price target on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.25.

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SITE Centers Trading Down 1.1 %

SITC traded down $0.14 during trading hours on Wednesday, reaching $12.64. 1,261,595 shares of the company's stock traded hands, compared to its average volume of 863,598. The firm has a 50-day moving average price of $14.12 and a 200 day moving average price of $19.56. The firm has a market capitalization of $662.45 million, a PE ratio of 0.92 and a beta of 1.63. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 52-week low of $12.58 and a 52-week high of $64.44.

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

Institutional Investors Weigh In On SITE Centers

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vestcor Inc acquired a new stake in shares of SITE Centers in the 3rd quarter worth $95,000. Neo Ivy Capital Management purchased a new stake in SITE Centers during the 3rd quarter worth approximately $202,000. Systematic Financial Management LP purchased a new stake in shares of SITE Centers during the third quarter valued at $203,000. KBC Group NV increased its position in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after acquiring an additional 2,193 shares during the period. Finally, Covestor Ltd raised its stake in SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after acquiring an additional 3,112 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

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.