SITE Centers Corp. (NYSE:SITC - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $12.90 and last traded at $13.03, with a volume of 1314923 shares. The stock had previously closed at $13.23.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SITC. Piper Sandler reduced their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup cut their price target on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $35.61.
View Our Latest Research Report on SITC
SITE Centers Stock Performance
The company has a fifty day moving average price of $14.62 and a 200 day moving average price of $23.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock has a market cap of $663.87 million, a P/E ratio of 0.93 and a beta of 1.63.
SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. On average, equities analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.
Insider Buying and Selling
In related news, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the transaction, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On SITE Centers
A number of institutional investors have recently added to or reduced their stakes in SITC. Vestcor Inc bought a new position in shares of SITE Centers during the 3rd quarter worth approximately $95,000. Neo Ivy Capital Management bought a new stake in SITE Centers during the third quarter worth $202,000. Systematic Financial Management LP purchased a new position in SITE Centers in the third quarter worth $203,000. KBC Group NV grew its stake in SITE Centers by 170.4% in the 4th 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 position in SITE Centers by 483.2% during the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock valued at $57,000 after buying an additional 3,112 shares during the period. 88.70% of the stock is owned by institutional investors.
About SITE Centers
(
Get Free Report)
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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