SITE Centers (NYSE:SITC) Price Target Lowered to $14.00 at Mizuho

SITE Centers (NYSE:SITC) had its price objective decreased by Mizuho from $15.00 to $14.00 in a research note released on Monday morning, MarketBeat reports. Mizuho currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on SITC. Compass Point upped their price target on shares of SITE Centers from $13.00 to $14.50 in a report on Wednesday, July 26th. StockNews.com lowered SITE Centers from a hold rating to a sell rating in a report on Friday, September 8th. Finally, Wells Fargo & Company assumed coverage on SITE Centers in a report on Tuesday, May 23rd. They issued an equal weight rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, SITE Centers presently has a consensus rating of Hold and an average price target of $14.00.

SITE Centers Price Performance

SITC opened at $13.33 on Monday. The company has a fifty day simple moving average of $13.67 and a 200 day simple moving average of $12.79. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of 27.20 and a beta of 1.57. SITE Centers has a twelve month low of $10.42 and a twelve month high of $14.63. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.97.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results on Tuesday, July 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.27). The business had revenue of $136.00 million during the quarter, compared to analysts’ expectations of $136.16 million. SITE Centers had a net margin of 21.07% and a return on equity of 6.07%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 EPS. Equities research analysts expect that SITE Centers will post 1.15 EPS for the current fiscal year.

SITE Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Tuesday, September 26th will be issued a $0.13 dividend. The ex-dividend date is Monday, September 25th. This represents a $0.52 dividend on an annualized basis and a yield of 3.90%. SITE Centers’s dividend payout ratio is currently 106.12%.

Institutional Investors Weigh In On SITE Centers

Hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC bought a new stake in SITE Centers in the first quarter valued at $792,000. Lazard Asset Management LLC acquired a new position in shares of SITE Centers during the first quarter worth approximately $76,000. Tower Research Capital LLC TRC grew its holdings in SITE Centers by 206.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,845 shares of the company’s stock worth $71,000 after buying an additional 3,937 shares in the last quarter. Quadrant Capital Group LLC increased its position in SITE Centers by 83.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,344 shares of the company’s stock valued at $97,000 after acquiring an additional 3,345 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in SITE Centers by 90.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 7,454 shares of the company’s stock valued at $89,000 after acquiring an additional 3,535 shares in the last quarter. 91.87% of the stock is currently owned by 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.