SITE Centers (NYSE:SITC – Get Rating) had its price target dropped by equities research analysts at Piper Sandler to $18.00 in a research note issued to investors on Monday, Stock Target Advisor reports. Piper Sandler’s price target points to a potential upside of 31.96% from the stock’s current price.
A number of other equities analysts have also commented on SITC. TheStreet lowered shares of SITE Centers from a “b-” rating to a “c+” rating in a research report on Monday, May 2nd. StockNews.com started coverage on SITE Centers in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Compass Point decreased their price target on SITE Centers from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 22nd. KeyCorp cut their price objective on SITE Centers from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. Finally, Jefferies Financial Group decreased their target price on SITE Centers from $17.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.71.
Shares of SITE Centers stock traded up $0.17 during midday trading on Monday, hitting $13.64. 194,748 shares of the company were exchanged, compared to its average volume of 2,247,789. The firm has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $15.35. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.35 and a quick ratio of 0.35. The firm has a market cap of $2.92 billion, a P/E ratio of 27.84 and a beta of 1.53. SITE Centers has a 52 week low of $12.40 and a 52 week high of $17.61.
In other news, CEO David R. Lukes sold 310,797 shares of the business’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $16.59, for a total transaction of $5,156,122.23. Following the completion of the sale, the chief executive officer now owns 1,164,513 shares in the company, valued at $19,319,270.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.80% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of SITC. Cubist Systematic Strategies LLC lifted its holdings in SITE Centers by 55.4% in the third quarter. Cubist Systematic Strategies LLC now owns 43,943 shares of the company’s stock valued at $678,000 after buying an additional 15,662 shares during the period. UBS Group AG raised its position in shares of SITE Centers by 50.8% during the 3rd quarter. UBS Group AG now owns 247,928 shares of the company’s stock valued at $3,828,000 after acquiring an additional 83,495 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SITE Centers by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,249,617 shares of the company’s stock valued at $34,734,000 after purchasing an additional 91,819 shares during the period. Comerica Bank boosted its position in shares of SITE Centers by 3.0% in the 3rd quarter. Comerica Bank now owns 162,506 shares of the company’s stock worth $2,668,000 after purchasing an additional 4,717 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of SITE Centers by 5.4% during the third quarter. UBS Asset Management Americas Inc. now owns 957,260 shares of the company’s stock worth $14,780,000 after purchasing an additional 48,970 shares during the period. Institutional investors own 88.34% of the company’s stock.
About SITE Centers (Get Rating)
SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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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