Piper Sandler Issues Positive Forecast for Site Centers (NYSE:SITC) Stock Price

Site Centers (NYSE:SITC) had its target price raised by Piper Sandler from $5.50 to $6.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also commented on SITC. Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a report on Friday, March 27th. Wall Street Zen upgraded shares of Site Centers from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $8.00.

Site Centers Stock Down 0.1%

Site Centers stock opened at $5.42 on Wednesday. The company has a 50 day moving average of $5.82 and a 200-day moving average of $6.65. Site Centers has a twelve month low of $5.24 and a twelve month high of $13.10. The stock has a market capitalization of $284.07 million, a PE ratio of 1.61 and a beta of 1.09.

Site Centers (NYSE:SITC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $2.79. Site Centers had a net margin of 156.72% and a return on equity of 43.13%. The business had revenue of $17.51 million for the quarter, compared to analyst estimates of $22.39 million.

Institutional Trading of Site Centers

A number of institutional investors have recently made changes to their positions in the business. Rush Island Management LP lifted its position in shares of Site Centers by 19.8% in the fourth quarter. Rush Island Management LP now owns 3,989,634 shares of the company’s stock worth $25,613,000 after purchasing an additional 659,269 shares in the last quarter. Cohen & Steers Inc. lifted its position in shares of Site Centers by 129.8% in the fourth quarter. Cohen & Steers Inc. now owns 2,678,505 shares of the company’s stock worth $17,196,000 after purchasing an additional 1,512,817 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Site Centers by 176.0% in the first quarter. SG Americas Securities LLC now owns 2,262,491 shares of the company’s stock worth $12,217,000 after purchasing an additional 1,442,755 shares in the last quarter. Gumshoe Capital Management LLC bought a new stake in shares of Site Centers in the fourth quarter worth $14,278,000. Finally, Nuveen LLC lifted its position in shares of Site Centers by 32.4% in the fourth quarter. Nuveen LLC now owns 1,995,706 shares of the company’s stock worth $12,812,000 after purchasing an additional 488,463 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Site Centers Company Profile

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.