Stocks of SITE Centers Corp. (NYSE:SITC) traded higher last session on Wall Street, up 1.39% to $14.58.
According to the data, SITE Centers Corp. (NYSE:SITC) has 14 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $21.00 and a low of $12.50, we find $14.00. Given the previous closing price of $14.38, this indicates a potential downside of -2.64 percent. SITC stock price is now 13.54% away from the 50-day moving average and 14.73% away from the 200-day moving average. The market capitalization of the company currently stands at $3.05B.
A total of 10 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $14.77 as their price target over the next twelve months.
With the price target of $12.50, Wells Fargo recently initiated with Equal Weight rating for SITE Centers Corp. (NYSE: SITC).
In other news, Fennerty Conor, EVP, CFO & Treasurer sold 12,000 shares of the company’s stock on Jun 16. The stock was sold for $159,120 at an average price of $13.26. Upon completion of the transaction, the EVP, CFO & Treasurer now directly owns 97,364 shares in the company, valued at $1.42 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 27, EVP & Chief Investment Officer Cattonar John M sold 11,000 shares of the business’s stock. A total of $149,743 was realized by selling the stock at an average price of $13.61. This leaves the insider owning 40,922 shares of the company worth $0.6 million. Insiders disposed of 406,851 shares of company stock worth roughly $5.93 million over the past 1 year. A total of 9.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SITC stock. A new stake in SITE Centers Corp. shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $19,673,000. PEREGRINE CAPITAL MANAGEMENT LLC invested $9,674,000 in shares of SITC during the first quarter. In the first quarter, WALLEYE CAPITAL LLC acquired a new stake in SITE Centers Corp. valued at approximately $8,546,000. GREAT LAKES ADVISORS, LLC acquired a new stake in SITC for approximately $8,269,000. TUDOR INVESTMENT CORP ET AL purchased a new stake in SITC valued at around $7,668,000 in the second quarter. In total, there are 366 active investors with 89.60% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $14.41 for SITE Centers Corp. (NYSE: SITC). During the past 12 months, SITE Centers Corp. has had a low of $10.42 and a high of $15.58. The fifty day moving average price for SITC is $12.96 and a two-hundred day moving average price translates $12.81 for the stock.
The latest earnings results from SITE Centers Corp. (NYSE: SITC) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.06, beating analysts’ expectations of $0.05 by 0.01. This compares to $0.05 EPS in the same period last year. The net profit margin was 28.50% and return on equity was 8.30% for SITC. The company reported revenue of $138.69 million for the quarter, compared to $134.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.25 percent. For the current quarter, analysts expect SITC to generate $136.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/06/2023. Investors who held shares on 06/14/2023 were paid a $0.13 dividend. On an annualized basis, this represents a $0.52 dividend and a 3.57% percent yield. There was an ex-dividend date of 06/13/2023 for this dividend. In terms of dividend payout ratio, SITC is presently at 67.70%.
SITE Centers Corp.(SITC) 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.
