SITE Centers (NASDAQ:SITC) Price Target Raised to $14.50 at Citigroup

SITE Centers (NASDAQ:SITC) had its price objective boosted by Citigroup from $13.50 to $14.50 in a report published on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Compass Point cut SITE Centers from a neutral rating to a sell rating and set a $13.50 price target on the stock. in a report on Monday, November 25th. Stifel Nicolaus raised SITE Centers from a hold rating to a buy rating and set a $16.00 price objective for the company in a report on Thursday, November 21st. Mizuho cut SITE Centers from a buy rating to a neutral rating and set a $14.00 target price on the stock. in a research report on Friday, September 13th. Finally, Zacks Investment Research raised SITE Centers from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $14.80.

NASDAQ:SITC traded up $0.01 during mid-day trading on Wednesday, hitting $14.32. The stock had a trading volume of 684,454 shares, compared to its average volume of 1,049,343. The company has a 50 day simple moving average of $14.93 and a 200-day simple moving average of $14.11. SITE Centers has a 52 week low of $10.71 and a 52 week high of $15.85.

SITE Centers (NASDAQ:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22). The business had revenue of $109.70 million for the quarter, compared to analysts’ expectations of $111.73 million. During the same period last year, the business posted $0.33 EPS. The company’s revenue was down 15.0% compared to the same quarter last year.

The business also recently disclosed a dividend, which will be paid on Tuesday, January 7th. Investors of record on Friday, December 13th will be issued a $0.20 dividend. The ex-dividend date is Thursday, December 12th.

A number of institutional investors have recently added to or reduced their stakes in SITC. Ladenburg Thalmann Financial Services Inc. raised its position in shares of SITE Centers by 37.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock worth $43,000 after buying an additional 896 shares in the last quarter. Phocas Financial Corp. bought a new stake in SITE Centers during the second quarter worth approximately $72,000. SRS Capital Advisors Inc. acquired a new stake in SITE Centers in the second quarter worth approximately $76,000. Chicago Equity Partners LLC acquired a new stake in SITE Centers in the second quarter worth approximately $132,000. Finally, Point72 Asset Management L.P. bought a new position in SITE Centers during the 2nd quarter valued at $143,000.

About SITE Centers

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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