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

Site Centers Corp. (NYSE:SITC) has been assigned an average rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $35.25.

SITC has been the subject of several analyst reports. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Piper Sandler reissued an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th.

Site Centers Trading Down 2.4%

Shares of NYSE SITC opened at $11.48 on Tuesday. The business has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $12.42. Site Centers has a 52 week low of $10.45 and a 52 week high of $32.00. The stock has a market cap of $601.75 million, a price-to-earnings ratio of 1.70 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74.

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

Site Centers Announces Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.50 per share.

Institutional Investors Weigh In On Site Centers

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Site Centers by 275.2% in the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock worth $27,000 after acquiring an additional 1,764 shares during the last quarter. Covestor Ltd boosted its holdings in Site Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares during the period. EverSource Wealth Advisors LLC grew its position in Site Centers by 4,078.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock worth $43,000 after purchasing an additional 3,671 shares during the last quarter. AlphaQuest LLC grew its position in Site Centers by 256.7% in the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock worth $62,000 after purchasing an additional 3,489 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Site Centers during the 1st quarter worth about $114,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.