SITE Centers Corp. (NYSE:SITC) Short Interest Update

SITE Centers Corp. (NYSE:SITC - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 4,210,000 shares, a drop of 12.5% from the February 28th total of 4,810,000 shares. Currently, 8.5% of the company's shares are short sold. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SITC. Wells Fargo & Company decreased their price objective on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Citigroup reduced their price objective on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $35.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SITC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company's stock valued at $19,612,000 after buying an additional 53,412 shares during the period. Quantinno Capital Management LP purchased a new position in SITE Centers in the third quarter worth approximately $244,000. Systematic Financial Management LP acquired a new position in SITE Centers during the 3rd quarter worth approximately $203,000. Soros Fund Management LLC purchased a new stake in shares of SITE Centers in the 3rd quarter valued at approximately $3,025,000. Finally, Jane Street Group LLC increased its position in shares of SITE Centers by 3.3% in the 3rd quarter. Jane Street Group LLC now owns 183,217 shares of the company's stock valued at $11,085,000 after purchasing an additional 5,779 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Trading Down 3.3 %

NYSE SITC traded down $0.40 during trading on Friday, hitting $11.69. The stock had a trading volume of 1,418,052 shares, compared to its average volume of 876,959. The company has a market capitalization of $612.64 million, a PE ratio of 0.85 and a beta of 1.30. SITE Centers has a twelve month low of $11.56 and a twelve month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average price of $13.83 and a 200 day moving average price of $17.63.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $32.87 million for the quarter, compared to analysts' expectations of $43.58 million. As a group, equities research analysts forecast that SITE Centers will post 3.24 earnings per share for the current year.

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.