SITE Centers Corp. (NASDAQ:SITC) Receives Average Recommendation of “Hold” from Analysts

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SITE Centers Corp. (NASDAQ:SITC) has received an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $14.50.

Several research firms recently commented on SITC. SunTrust Banks dropped their price target on SITE Centers from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, March 11th. Citigroup lifted their price target on SITE Centers from $13.50 to $14.50 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. BidaskClub lowered SITE Centers from a “sell” rating to a “strong sell” rating in a research report on Thursday. Morgan Stanley upgraded SITE Centers from an “equal” rating to an “equal weight” rating and lifted their price target for the stock from $13.50 to $16.00 in a research report on Tuesday, December 17th. Finally, Evercore ISI began coverage on SITE Centers in a research report on Friday, February 14th. They issued a “hold” rating and a $15.00 price target for the company.

Shares of SITC stock opened at $6.13 on Friday. SITE Centers has a 12-month low of $3.60 and a 12-month high of $15.85. The stock’s 50-day moving average price is $10.43 and its 200-day moving average price is $13.31.

SITE Centers (NASDAQ:SITC) last issued its earnings results on Thursday, February 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.23). The firm had revenue of $111.79 million during the quarter, compared to analysts’ expectations of $111.53 million. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Tuesday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 9th. This represents a $0.80 annualized dividend and a yield of 13.05%.

In other SITE Centers news, CEO David R. Lukes bought 20,000 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was acquired at an average price of $4.50 per share, for a total transaction of $90,000.00. Following the completion of the transaction, the chief executive officer now directly owns 368,212 shares of the company’s stock, valued at $1,656,954. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Conor Fennerty bought 11,000 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average price of $4.58 per share, with a total value of $50,380.00. Following the transaction, the chief financial officer now directly owns 59,650 shares of the company’s stock, valued at $273,197. The disclosure for this purchase can be found here. Insiders have acquired 51,576 shares of company stock valued at $237,704 in the last 90 days.

Large investors have recently made changes to their positions in the business. Huntington National Bank purchased a new position in shares of SITE Centers during the fourth quarter valued at approximately $26,000. NumerixS Investment Technologies Inc boosted its position in shares of SITE Centers by 733.3% during the fourth quarter. NumerixS Investment Technologies Inc now owns 7,500 shares of the company’s stock valued at $105,000 after buying an additional 6,600 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of SITE Centers by 49.4% in the fourth quarter. Advisors Asset Management Inc. now owns 8,412 shares of the company’s stock valued at $118,000 after purchasing an additional 2,783 shares during the period. Ellington Management Group LLC purchased a new stake in shares of SITE Centers in the fourth quarter valued at approximately $164,000. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of SITE Centers by 6.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 12,230 shares of the company’s stock valued at $171,000 after purchasing an additional 792 shares during the period.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

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Analyst Recommendations for SITE Centers (NASDAQ:SITC)

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