Morgan Stanley Boosts SITE Centers (NASDAQ:SITC) Price Target to $8.20

SITE Centers (NASDAQ:SITC) had its price objective increased by Morgan Stanley from $5.75 to $8.20 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently commented on SITC. BidaskClub upgraded shares of SITE Centers from a sell rating to a hold rating in a research report on Tuesday, August 11th. Deutsche Bank dropped their target price on shares of SITE Centers from $15.00 to $9.00 and set a hold rating for the company in a research report on Friday, June 5th. SunTrust Banks boosted their target price on shares of SITE Centers from $6.00 to $7.00 and gave the company a hold rating in a research report on Monday, June 15th. Citigroup boosted their target price on shares of SITE Centers from $5.00 to $8.00 and gave the company a neutral rating in a research report on Thursday, July 2nd. Finally, Raymond James cut shares of SITE Centers from an outperform rating to a market perform rating in a research report on Thursday, June 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $10.56.

Shares of SITE Centers stock opened at $8.30 on Monday. SITE Centers has a twelve month low of $3.60 and a twelve month high of $15.85. The company has a 50-day simple moving average of $7.78 and a two-hundred day simple moving average of $7.11.

SITE Centers (NASDAQ:SITC) last issued its quarterly earnings data on Tuesday, July 28th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). The business had revenue of $98.10 million for the quarter, compared to analyst estimates of $98.65 million. During the same period last year, the business earned $0.31 EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mutual of America Capital Management LLC bought a new stake in SITE Centers during the 2nd quarter worth approximately $59,000. First Mercantile Trust Co. bought a new stake in shares of SITE Centers in the 1st quarter valued at $72,000. M&T Bank Corp bought a new stake in shares of SITE Centers in the 1st quarter valued at $74,000. Fox Run Management L.L.C. bought a new stake in shares of SITE Centers in the 2nd quarter valued at $82,000. Finally, Fifth Third Bancorp boosted its stake in shares of SITE Centers by 15.6% in the 1st quarter. Fifth Third Bancorp now owns 16,952 shares of the company’s stock valued at $88,000 after purchasing an additional 2,283 shares during the last quarter.

SITE Centers Company Profile

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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Analyst Recommendations for SITE Centers (NASDAQ:SITC)

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