SITE Centers (NYSE:SITC) Price Target Lowered to $20.00 at Piper Sandler

SITE Centers (NYSE:SITC) had its price target reduced by Piper Sandler from $23.00 to $20.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently commented on SITC. Wells Fargo & Company cut SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. StockNews.com raised SITE Centers from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd. Evercore ISI raised shares of SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Truist Financial raised their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus upped their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SITE Centers presently has an average rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Down 0.4 %

SITC opened at $15.92 on Monday. SITE Centers has a 1-year low of $15.83 and a 1-year high of $64.44. The business has a 50 day moving average of $36.22 and a 200-day moving average of $154.79. The stock has a market capitalization of $834.69 million, a price-to-earnings ratio of 1.17 and a beta of 1.62. 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) last posted its quarterly 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 analyst estimates of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business’s quarterly revenue was down 37.5% on a year-over-year basis. During the same period last year, the business posted $1.32 EPS. As a group, sell-side analysts anticipate that SITE Centers will post 3.36 earnings per share for the current year.

Institutional Trading of SITE Centers

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in SITE Centers during the 3rd quarter valued at $2,596,000. Quest Partners LLC increased its stake in shares of SITE Centers by 1,046.5% in the third quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock valued at $1,839,000 after buying an additional 27,743 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of SITE Centers in the third quarter valued at about $617,000. Los Angeles Capital Management LLC acquired a new position in SITE Centers during the 3rd quarter worth about $355,000. Finally, Blue Trust Inc. grew its holdings in SITE Centers by 508.3% during the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock worth $386,000 after acquiring an additional 5,332 shares during the last quarter. Institutional investors and hedge funds 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.