Analysts Set Site Centers Corp. (NYSE:SITC) PT at $13.13

Site Centers Corp. (NYSE:SITC) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $13.1250.

A number of research firms recently weighed in on SITC. Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH initiated coverage on Site Centers in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 price objective for the company. Finally, Piper Sandler set a $12.00 price objective on Site Centers and gave the company an “overweight” rating in a research report on Wednesday, October 22nd.

Institutional Trading of Site Centers

Several hedge funds and other institutional investors have recently bought and sold shares of SITC. Robeco Institutional Asset Management B.V. lifted its position in Site Centers by 13.9% in the first quarter. Robeco Institutional Asset Management B.V. now owns 402,405 shares of the company’s stock valued at $5,167,000 after purchasing an additional 49,190 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Site Centers by 2.6% during the first quarter. Principal Financial Group Inc. now owns 277,998 shares of the company’s stock valued at $3,569,000 after buying an additional 6,931 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Site Centers by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 619,273 shares of the company’s stock valued at $7,951,000 after buying an additional 4,354 shares during the period. Brown Advisory Inc. increased its stake in shares of Site Centers by 100.6% during the first quarter. Brown Advisory Inc. now owns 759,033 shares of the company’s stock valued at $9,746,000 after buying an additional 380,711 shares during the period. Finally, Jennison Associates LLC purchased a new position in shares of Site Centers during the first quarter valued at approximately $1,643,000. Institutional investors own 88.70% of the company’s stock.

Site Centers Stock Performance

NYSE:SITC opened at $8.66 on Friday. The business has a 50 day moving average of $9.42 and a 200 day moving average of $10.93. The company has a market capitalization of $453.87 million, a price-to-earnings ratio of 1.28 and a beta of 1.39. Site Centers has a 1-year low of $8.42 and a 1-year high of $17.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74.

Site Centers (NYSE:SITC) last released its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $30.66 million during the quarter, compared to the consensus estimate of $33.10 million. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.Site Centers’s quarterly revenue was down 63.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. On average, sell-side analysts predict that Site Centers will post 3.24 earnings per share for the current fiscal year.

Site Centers Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $1.00 dividend. The ex-dividend date is Friday, October 31st.

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.