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

SITE Centers (NYSE:SITC) had its price target reduced 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.

Several other brokerages have also weighed in on SITC. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Stifel Nicolaus lifted their price objective on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. StockNews.com assumed coverage on SITE Centers in a report on Monday, October 7th. They issued a “buy” rating on the stock. Truist Financial lifted their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Evercore ISI upgraded SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SITE Centers presently has a consensus rating of “Hold” and an average target price of $97.18.

SITE Centers Stock Performance

Shares of SITC opened at $16.82 on Tuesday. The stock has a 50-day moving average of $70.75 and a two-hundred day moving average of $175.23. SITE Centers has a one year low of $16.50 and a one year high of $64.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.36 and a current ratio of 7.36. The stock has a market cap of $3.52 billion, a P/E ratio of 16.49 and a beta of 1.64.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $17.76 EPS for the quarter, topping analysts’ consensus estimates of $3.84 by $13.92. The company had revenue of $113.48 million during the quarter, compared to analysts’ expectations of $113.23 million. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The firm’s revenue was down 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.64 EPS. As a group, research analysts predict that SITE Centers will post 3.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaMark Advisors LLC acquired a new position in SITE Centers in the third quarter valued at approximately $319,000. SG Americas Securities LLC lifted its holdings in SITE Centers by 115.1% in the third quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock valued at $987,000 after acquiring an additional 8,731 shares during the last quarter. Quarry LP lifted its holdings in SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after acquiring an additional 2,857 shares during the last quarter. Algert Global LLC lifted its holdings in SITE Centers by 65.0% in the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after acquiring an additional 162,260 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in SITE Centers by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock valued at $1,510,000 after acquiring an additional 1,751 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About SITE Centers

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.