SITE Centers Corp. (NASDAQ:SITC) Given Average Rating of “Buy” by Brokerages

Shares of SITE Centers Corp. (NASDAQ:SITC) have received an average rating of “Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.67.

Several research analysts have recently commented on SITC shares. Mizuho lowered SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research report on Friday, September 13th. Compass Point started coverage on SITE Centers in a research report on Thursday, August 15th. They issued a “neutral” rating and a $14.00 target price for the company. Finally, Zacks Investment Research upgraded SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, October 1st.

A number of large investors have recently added to or reduced their stakes in SITC. Ladenburg Thalmann Financial Services Inc. boosted its position in SITE Centers by 37.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock valued at $43,000 after purchasing an additional 896 shares during the period. Phocas Financial Corp. acquired a new position in SITE Centers during the 2nd quarter valued at approximately $72,000. Machina Capital S.A.S. acquired a new position in SITE Centers during the 2nd quarter valued at approximately $74,000. SRS Capital Advisors Inc. acquired a new position in SITE Centers during the 2nd quarter valued at approximately $76,000. Finally, NumerixS Investment Technologies Inc acquired a new position in SITE Centers during the 1st quarter valued at approximately $108,000.

Shares of SITC traded up $0.17 during mid-day trading on Friday, hitting $14.98. The stock had a trading volume of 41,195 shares, compared to its average volume of 1,009,202. The company’s fifty day simple moving average is $14.45 and its two-hundred day simple moving average is $13.74. SITE Centers has a fifty-two week low of $10.71 and a fifty-two week high of $15.23.

SITE Centers (NASDAQ:SITC) last issued its earnings results on Monday, July 29th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.23). The firm had revenue of $113.50 million during the quarter, compared to the consensus estimate of $113.12 million. The firm’s revenue for the quarter was down 44.4% on a year-over-year basis.

The business also recently disclosed a — dividend, which was paid on Tuesday, October 8th. Investors of record on Monday, September 23rd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a yield of 5.4%.

SITE Centers Company Profile

SITE 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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