SITE Centers Corp. (NYSE:SITC - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.90 and last traded at $13.03, with a volume of 1314923 shares changing hands. The stock had previously closed at $13.23.
Several research firms have issued reports on SITC. Wells Fargo & Company dropped their price target on SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Citigroup dropped their price target on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. StockNews.com downgraded SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler dropped their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.61.
Check Out Our Latest Stock Report on SITE Centers
The business has a 50-day simple moving average of $14.71 and a two-hundred day simple moving average of $23.51. The stock has a market cap of $672.41 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.
SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The business had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Equities analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.
In other news, EVP John M. Cattonar sold 8,794 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dawn M. Sweeney sold 3,768 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the sale, the director now owns 29,082 shares of the company's stock, valued at approximately $451,934.28. This represents a 11.47 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.10% of the company's stock.
Several institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its stake in shares of SITE Centers by 543.6% in the fourth quarter. Two Sigma Advisers LP now owns 73,053 shares of the company's stock valued at $1,117,000 after buying an additional 61,703 shares during the period. Two Sigma Investments LP bought a new stake in shares of SITE Centers in the fourth quarter valued at approximately $4,340,000. Tidal Investments LLC bought a new stake in shares of SITE Centers in the fourth quarter valued at approximately $504,000. Rush Island Management LP lifted its stake in SITE Centers by 161.0% during the fourth quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock worth $24,193,000 after purchasing an additional 976,110 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in SITE Centers by 44.5% during the fourth quarter. ProShare Advisors LLC now owns 14,307 shares of the company's stock worth $219,000 after purchasing an additional 4,405 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.
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.
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