Analysts Set SITE Centers Corp. (NYSE:SITC) PT at $14.89

SITE Centers Corp. (NYSE:SITC) has received a consensus recommendation of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.89.

A number of research analysts have recently issued reports on SITC shares. KeyCorp raised their price target on shares of SITE Centers from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. Wolfe Research started coverage on shares of SITE Centers in a research report on Thursday, September 23rd. They issued an “outperform” rating and a $19.00 price target on the stock. TheStreet upgraded shares of SITE Centers from a “c” rating to a “b-” rating in a research report on Monday. Piper Sandler lifted their price objective on shares of SITE Centers from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Wednesday, September 1st. Finally, Morgan Stanley lifted their price objective on shares of SITE Centers from $15.75 to $16.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 19th.

NYSE:SITC traded up $0.22 during mid-day trading on Friday, reaching $16.20. The company’s stock had a trading volume of 56,814 shares, compared to its average volume of 1,840,014. The stock has a market cap of $3.42 billion, a P/E ratio of 177.58 and a beta of 1.73. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.59 and a quick ratio of 0.59. SITE Centers has a twelve month low of $6.64 and a twelve month high of $17.15. The company’s fifty day simple moving average is $15.92 and its two-hundred day simple moving average is $15.25.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Sunday, October 24th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.08. SITE Centers had a net margin of 9.73% and a return on equity of 2.53%. The firm had revenue of $120.60 million for the quarter, compared to the consensus estimate of $121.36 million. During the same period in the prior year, the firm posted $0.23 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. Sell-side analysts expect that SITE Centers will post 1.09 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 8th. Shareholders of record on Friday, September 24th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, September 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 2.96%. SITE Centers’s dividend payout ratio (DPR) is presently 48.48%.

Institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group purchased a new stake in SITE Centers during the first quarter worth about $90,000. Harvest Fund Management Co. Ltd lifted its stake in SITE Centers by 47.1% in the second quarter. Harvest Fund Management Co. Ltd now owns 10,322 shares of the company’s stock valued at $155,000 after purchasing an additional 3,303 shares during the last quarter. Mackenzie Financial Corp bought a new position in SITE Centers during the second quarter valued at $155,000. Teza Capital Management LLC bought a new stake in shares of SITE Centers in the first quarter valued at $166,000. Finally, Assetmark Inc. bought a new stake in shares of SITE Centers in the second quarter valued at $174,000. 89.04% of the stock is currently owned by hedge funds and other institutional investors.

SITE Centers Company Profile

SITE Centers Corp. is a real estate investment trust, which engages in the acquisition, development, lease, and management of shopping centers. It operates through the Shopping Centers and Loan Investments segments. The company was founded in 1965 and is headquartered in Beachwood, OH.

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Analyst Recommendations for SITE Centers (NYSE:SITC)

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