SITE Centers (NYSE:SITC) PT Raised to $57.00 at Morgan Stanley

SITE Centers (NYSE:SITC) had its target price boosted by Morgan Stanley from $56.00 to $57.00 in a report published on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities research analysts also recently issued reports about the company. Truist Financial increased their price target on SITE Centers from $56.00 to $58.00 and gave the stock a hold rating in a report on Wednesday, August 28th. Wells Fargo & Company raised their target price on shares of SITE Centers from $64.00 to $68.00 and gave the stock an overweight rating in a research note on Wednesday, August 28th. StockNews.com began coverage on shares of SITE Centers in a report on Sunday, September 29th. They issued a hold rating on the stock. Piper Sandler increased their price target on shares of SITE Centers from $256.00 to $288.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Finally, Evercore ISI raised SITE Centers to a hold rating in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $110.54.

SITE Centers Trading Up 2.2 %

NYSE SITC opened at $16.95 on Monday. The firm’s fifty day moving average is $116.68 and its two-hundred day moving average is $189.90. 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 firm has a market cap of $3.55 billion, a PE ratio of 16.62 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.84 by $13.92. SITE Centers had a return on equity of 23.05% and a net margin of 91.77%. The firm had revenue of $113.48 million for the quarter, compared to analysts’ expectations of $113.23 million. During the same quarter in the previous year, the firm posted $4.64 EPS. The firm’s revenue for the quarter was down 16.5% on a year-over-year basis. Analysts expect that SITE Centers will post 3.63 earnings per share for the current year.

Institutional Investors Weigh In On SITE Centers

A number of institutional investors and hedge funds have recently modified their holdings of SITC. Chilton Capital Management LLC raised its holdings in SITE Centers by 384.0% during the first quarter. Chilton Capital Management LLC now owns 1,936 shares of the company’s stock worth $28,000 after purchasing an additional 1,536 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of SITE Centers in the second quarter valued at $42,000. Quarry LP increased its position in shares of 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 buying an additional 2,857 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of SITE Centers during the 1st quarter worth $147,000. Finally, Diversified Trust Co purchased a new stake in shares of SITE Centers in the 2nd quarter worth about $152,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Company Profile

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.