Piper Sandler Cuts Site Centers (NYSE:SITC) Price Target to $10.00

Site Centers (NYSE:SITC) had its price target cut by Piper Sandler from $12.00 to $10.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently commented on SITC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Site Centers in a report on Thursday, October 30th. LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research note on Tuesday, September 9th. They set a “neutral” rating and a $10.00 target price for the company. Finally, Wall Street Zen cut shares of Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Site Centers presently has an average rating of “Hold” and a consensus target price of $12.63.

Site Centers Price Performance

Shares of Site Centers stock opened at $7.18 on Monday. The stock has a market cap of $376.41 million, a price-to-earnings ratio of 1.06 and a beta of 1.38. The stock has a 50 day moving average price of $8.52 and a 200-day moving average price of $10.61. Site Centers has a one year low of $6.89 and a one year high of $16.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74.

Site Centers Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, October 31st. Site Centers’s dividend payout ratio (DPR) is currently 92.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its position in Site Centers by 275.2% during the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock valued at $27,000 after purchasing an additional 1,764 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Site Centers by 1,792.1% during the third quarter. Federated Hermes Inc. now owns 4,560 shares of the company’s stock worth $41,000 after purchasing an additional 4,319 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock valued at $43,000 after purchasing an additional 3,671 shares during the last quarter. AlphaQuest LLC grew its stake in Site Centers by 256.7% during the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock worth $62,000 after buying an additional 3,489 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Site Centers by 41.4% in the third quarter. Covestor Ltd now owns 7,218 shares of the company’s stock worth $65,000 after acquiring an additional 2,112 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

About Site Centers

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.