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

by · The Markets Daily

SITE Centers (NYSE:SITC – Free Report) had its price target cut by Compass Point from $64.00 to $17.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also issued reports on SITC. StockNews.com started coverage on SITE Centers in a research report on Monday, October 7th. They issued a buy rating for the company. Stifel Nicolaus lifted their price target on SITE Centers from $65.00 to $65.25 and gave the stock a buy rating in a report on Thursday, September 19th. Piper Sandler upped their price objective on shares of SITE Centers from $256.00 to $288.00 and gave the company an overweight rating in a report on Wednesday, July 31st. Evercore ISI raised shares of SITE Centers to a hold rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley increased their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an equal weight rating in a research note on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SITE Centers presently has a consensus rating of Hold and a consensus price target of $97.18.

Check Out Our Latest Analysis on SITC

SITE Centers Stock Performance

NYSE SITC opened at $17.24 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 7.36 and a quick ratio of 7.36. SITE Centers has a 1-year low of $16.50 and a 1-year high of $64.44. The company has a market cap of $3.61 billion, a PE ratio of 16.90 and a beta of 1.64. The stock’s 50 day simple moving average is $79.79 and its 200-day simple moving average is $177.46.

SITE Centers (NYSE:SITC – Get Free Report) last released its earnings results 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 analyst estimates of $113.23 million. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The company’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.64 earnings per share. As a group, equities research analysts anticipate that SITE Centers will post 3.39 EPS for the current fiscal year.

Institutional Trading of SITE Centers

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of SITE Centers by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 30,339,767 shares of the company’s stock worth $413,531,000 after buying an additional 608,996 shares during the period. Quadrature Capital Ltd purchased a new position in SITE Centers during the 4th quarter valued at about $526,000. Pensionfund Sabic grew its position in SITE Centers by 100.0% in the 1st quarter. Pensionfund Sabic now owns 20,000 shares of the company’s stock valued at $293,000 after acquiring an additional 10,000 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of SITE Centers by 13.5% during the first quarter. Principal Financial Group Inc. now owns 1,066,843 shares of the company’s stock worth $15,629,000 after purchasing an additional 127,278 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of SITE Centers by 21.4% in the first quarter. BNP Paribas Financial Markets now owns 96,225 shares of the company’s stock valued at $1,410,000 after purchasing an additional 16,969 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Company Profile

(Get Free Report)

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.

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