Piper Sandler Cuts SITE Centers (NYSE:SITC) Price Target to $19.00

SITE Centers (NYSE:SITC) had its target price decreased by research analysts at Piper Sandler from $20.00 to $19.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 37.83% from the stock’s current price.

Several other analysts have also recently commented on the stock. Citigroup decreased their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. StockNews.com upgraded SITE Centers from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.61.

SITE Centers Stock Down 5.2 %

Shares of SITC opened at $13.79 on Friday. The business’s 50 day moving average is $15.03 and its 200 day moving average is $33.06. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers has a 12-month low of $13.30 and a 12-month high of $32.22. The company has a market capitalization of $722.75 million, a PE ratio of 1.01 and a beta of 1.60.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Research analysts expect that SITE Centers will post 3.24 earnings per share for the current fiscal year.

Insider Buying and Selling at SITE Centers

In related news, EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. The trade was a 11.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,457 shares of company stock worth $2,791,693 over the last ninety days. Company insiders own 10.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Graham Capital Wealth Management LLC purchased a new position in SITE Centers during the 4th quarter valued at $2,226,000. Advisors Preferred LLC purchased a new stake in shares of SITE Centers during the fourth quarter valued at $2,517,000. Meeder Asset Management Inc. bought a new position in shares of SITE Centers in the third quarter worth about $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock worth $19,612,000 after buying an additional 53,412 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in SITE Centers in the 4th quarter worth about $606,000. Institutional investors own 88.70% of the company’s stock.

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.