SITE Centers (NYSE:SITC) Upgraded at StockNews.com

SITE Centers (NYSE:SITC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

A number of other research analysts also recently weighed in on the stock. Piper Sandler lowered their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company lowered their price target on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup cut their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.75.

SITE Centers Stock Performance

SITC traded down $0.07 during midday trading on Tuesday, hitting $14.57. 749,384 shares of the company traded hands, compared to its average volume of 758,152. The company’s 50-day moving average is $15.06 and its 200 day moving average is $33.33. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $764.06 million, a PE ratio of 1.07 and a beta of 1.60. SITE Centers has a 52 week low of $14.47 and a 52 week high of $32.22.

Insider Buying and Selling

In other news, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares of the company’s stock, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,457 shares of company stock valued at $2,791,693. 10.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of SITE Centers in the third quarter valued at about $355,000. GSA Capital Partners LLP bought a new stake in SITE Centers during the 3rd quarter valued at approximately $617,000. Quest Partners LLC lifted its holdings in SITE Centers by 1,046.5% in the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock worth $1,839,000 after purchasing an additional 27,743 shares in the last quarter. Meeder Asset Management Inc. bought a new position in SITE Centers in the 3rd quarter worth approximately $2,596,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in SITE Centers during the 3rd quarter valued at approximately $319,000. 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.