Compass Point Lowers SITE Centers (NYSE:SITC) Price Target to $17.00

SITE Centers (NYSE:SITC) had its target price lowered by Compass Point from $64.00 to $17.00 in a research note published on Tuesday morning, Benzinga reports. Compass Point currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on SITC. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Piper Sandler increased their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Morgan Stanley increased their price target on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Truist Financial raised their target price on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.18.

SITE Centers Trading Down 0.2 %

NYSE SITC opened at $16.78 on Tuesday. The company has a market capitalization of $3.52 billion, a PE ratio of 16.45 and a beta of 1.64. The stock has a 50-day simple moving average of $66.17 and a 200 day simple moving average of $173.74. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.70. SITE Centers has a 12 month low of $16.50 and a 12 month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $17.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.84 by $13.92. The business had revenue of $113.48 million during the quarter, compared to the consensus estimate of $113.23 million. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. SITE Centers’s quarterly revenue was down 16.5% on a year-over-year basis. During the same period last year, the company earned $4.64 earnings per share. Research analysts forecast that SITE Centers will post 3.39 EPS for the current year.

Institutional Investors Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently made changes to their positions in SITC. Chilton Capital Management LLC boosted its stake in shares of SITE Centers by 384.0% in the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after acquiring an additional 1,536 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of SITE Centers in the second quarter valued at $42,000. Quarry LP raised its position in SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers during the 1st quarter worth approximately $147,000. Finally, Diversified Trust Co purchased a new stake in shares of SITE Centers during the second quarter valued at $152,000. Hedge funds and other 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.