SITE Centers Corp. (NYSE:SITC) Short Interest Down 12.5% in March

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

Analyst Upgrades and Downgrades

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

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SITE Centers Stock Performance

Shares of SITE Centers stock traded down $0.81 on Thursday, reaching $12.08. The stock had a trading volume of 898,848 shares, compared to its average volume of 870,758. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The business's 50-day moving average price is $13.97 and its two-hundred day moving average price is $18.59. The stock has a market cap of $633.09 million, a P/E ratio of 0.88 and a beta of 1.63. SITE Centers has a fifty-two week low of $11.87 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last released its 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 firm 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%. On average, sell-side analysts forecast that SITE Centers will post 3.24 EPS for the current year.

Institutional Trading of SITE Centers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in shares of SITE Centers in the fourth quarter valued at approximately $34,297,000. Invesco Ltd. raised its stake in SITE Centers by 777.4% during the 4th quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock valued at $32,432,000 after purchasing an additional 1,879,351 shares during the last quarter. Rush Island Management LP boosted its holdings in SITE Centers by 161.0% in the 4th quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock valued at $24,193,000 after purchasing an additional 976,110 shares during the period. Man Group plc grew its position in SITE Centers by 1,126.0% in the 4th quarter. Man Group plc now owns 771,623 shares of the company's stock worth $11,798,000 after purchasing an additional 708,685 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of SITE Centers by 3,701.4% during the 4th quarter. AQR Capital Management LLC now owns 727,672 shares of the company's stock worth $11,126,000 after purchasing an additional 708,530 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Company Profile

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.