Analysts Set Site Centers Corp. (NYSE:SITC) Target Price at $35.25

Shares of Site Centers Corp. (NYSE:SITC) have been given an average recommendation of “Hold” by the nine analysts that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $35.25.

SITC has been the topic of a number of recent research reports. Wall Street Zen upgraded Site Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Piper Sandler decreased their price objective on shares of Site Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company lowered their price target on Site Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SITC. Covestor Ltd increased its holdings in shares of Site Centers by 483.2% during 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. AlphaQuest LLC boosted its position in shares of Site Centers by 256.7% during the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock worth $62,000 after acquiring an additional 3,489 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Site Centers by 1,223.2% during the 1st quarter. GAMMA Investing LLC now owns 8,230 shares of the company’s stock worth $106,000 after buying an additional 7,608 shares in the last quarter. Strs Ohio acquired a new position in Site Centers during the first quarter worth about $114,000. Finally, Van ECK Associates Corp lifted its stake in Site Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after purchasing an additional 833 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Site Centers Trading Down 1.1%

Shares of Site Centers stock opened at $12.67 on Monday. Site Centers has a 52-week low of $10.46 and a 52-week high of $64.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $664.41 million, a PE ratio of 1.23 and a beta of 1.32. The company’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $13.38.

Site Centers (NYSE:SITC) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The company had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. During the same period in the previous year, the business posted $0.28 earnings per share. The firm’s revenue was down 66.6% compared to the same quarter last year. On average, analysts expect that Site Centers will post 3.24 EPS for the current year.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $1.50 per share.

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.