SITE Centers (NYSE:SITC) Hits New 12-Month Low - Here's What Happened

SITE Centers Corp. (NYSE:SITC - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $12.58 and last traded at $12.62, with a volume of 104690 shares trading hands. The stock had previously closed at $12.77.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SITC. Wells Fargo & Company decreased their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Piper Sandler dropped 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 downgraded SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Citigroup decreased their price objective on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Eight 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, SITE Centers currently has a consensus rating of "Hold" and a consensus price target of $35.25.

SITE Centers Trading Down 0.8 %

The stock has a fifty day moving average price of $14.07 and a 200 day moving average price of $18.96. The stock has a market cap of $667.70 million, a PE ratio of 0.93 and a beta of 1.63. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

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SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Equities analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

Institutional Trading of SITE Centers

Several institutional investors have recently added to or reduced their stakes in the company. Vestcor Inc bought a new stake in shares of SITE Centers during the 3rd quarter worth approximately $95,000. Neo Ivy Capital Management purchased a new stake in SITE Centers in the third quarter worth $202,000. Systematic Financial Management LP bought a new stake in shares of SITE Centers during the third quarter worth $203,000. KBC Group NV boosted its stake in shares of SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after purchasing an additional 2,193 shares during the period. Finally, Covestor Ltd grew its holdings in shares of SITE Centers by 483.2% in the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after purchasing an additional 3,112 shares during the last quarter. Institutional investors 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.