In yesterday’s Wall Street session, SITE Centers Corp (NYSE:SITC) shares traded at $12.81, up 2.48% from the previous session.
As of this writing, 11 analysts cover SITE Centers Corp (NYSE:SITC). 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 $12.00, we find $14.00. Given the previous closing price of $12.50, this indicates a potential upside of 12.0 percent. SITC stock price is now 2.80% away from the 50-day moving average and 0.35% away from the 200-day moving average. The market capitalization of the company currently stands at $2.68B.
There are 7 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $14.93 as their price target over the next twelve months.
With the price target maintained at $15, Wells Fargo recently Upgraded its rating from Equal Weight to Overweight 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 $1.25 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 $0.52 million. Insiders disposed of 401,997 shares of company stock worth roughly $5.15 million over the past 1 year. A total of 10.42% of the company’s stock is owned by insiders.
Wednesday morning saw SITE Centers Corp (NYSE: SITC) opened at $12.46. During the past 12 months, SITE Centers Corp has had a low of $10.88 and a high of $14.62. The fifty day moving average price for SITC is $12.46 and a two-hundred day moving average price translates $12.75 for the stock.
The latest earnings results from SITE Centers Corp (NYSE: SITC) was released for Sep, 2023. According to the REIT – Retail Company, earnings per share came in at $0.01, missing analysts’ expectations of $0.03 by -0.02. This compares to $0.30 EPS in the same period last year. The net profit margin was 15.30% and return on equity was 4.67% for SITC. The company reported revenue of $144.76 million for the quarter, compared to $138.84 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.26 percent. For the current quarter, analysts expect SITC to generate $135.21M in revenue.
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.
