SITE Centers Corp. (NYSE:SITC) Receives Average Recommendation of “Hold” from Analysts

SITE Centers Corp. (NYSE:SITC – Get Rating) has received a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.15.

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of SITE Centers in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Mizuho dropped their price objective on shares of SITE Centers from $13.00 to $12.00 in a research note on Thursday. Finally, Wells Fargo & Company assumed coverage on shares of SITE Centers in a research note on Tuesday. They issued an “equal weight” rating and a $12.50 price objective for the company.

SITE Centers Stock Performance

Shares of SITC stock opened at $11.63 on Friday. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.51 and a beta of 1.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.44 and a current ratio of 0.44. The company has a 50-day simple moving average of $11.89 and a 200 day simple moving average of $12.79. SITE Centers has a 52 week low of $10.42 and a 52 week high of $16.09.

SITE Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Wednesday, June 14th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Tuesday, June 13th. SITE Centers’s payout ratio is presently 69.33%.

Hedge Funds Weigh In On SITE Centers

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in shares of SITE Centers by 206.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,845 shares of the company’s stock valued at $71,000 after purchasing an additional 3,937 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of SITE Centers during the 1st quarter valued at approximately $76,000. Quadrant Capital Group LLC grew its holdings in shares of SITE Centers by 365.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 7,197 shares of the company’s stock valued at $77,000 after purchasing an additional 5,651 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of SITE Centers by 90.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,454 shares of the company’s stock valued at $89,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in shares of SITE Centers by 17.5% during the 3rd quarter. Truist Financial Corp now owns 12,260 shares of the company’s stock valued at $131,000 after purchasing an additional 1,827 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

About SITE Centers

(Get Rating)

SITE Centers Corp. is a real estate investment trust, which engages in the acquisition, development, lease, and management of shopping centers. It operates through the Shopping Centers and Loan Investments segments. The company was founded in 1965 and is headquartered in Beachwood, OH.