SITE Centers (NYSE:SITC) Reaches New 1-Year Low - What's Next?

SITE Centers Corp. (NYSE:SITC - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $11.87 and last traded at $12.09, with a volume of 83217 shares. The stock had previously closed at $12.88.

Analyst Ratings Changes

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

SITE Centers Trading Down 2.4 %

The firm has a market capitalization of $569.65 million, a PE ratio of 0.79 and a beta of 1.30. 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 stock's 50-day simple moving average is $13.74 and its 200-day simple moving average is $17.29.

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SITE Centers (NYSE:SITC - Get Free Report) last released 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 business had revenue of $32.87 million during the quarter, compared to analysts' expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, sell-side analysts expect that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

Hedge Funds Weigh In On SITE Centers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in SITE Centers by 1,223.2% during the first quarter. GAMMA Investing LLC now owns 8,230 shares of the company's stock worth $106,000 after purchasing an additional 7,608 shares during the period. Two Sigma Advisers LP boosted its position in SITE Centers by 543.6% in the 4th 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 acquired a new stake in SITE Centers in the fourth quarter valued at approximately $4,340,000. Tidal Investments LLC acquired a new position in shares of SITE Centers during the fourth quarter worth $504,000. Finally, Rush Island Management LP boosted its position in shares of SITE Centers by 161.0% during the 4th quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock worth $24,193,000 after acquiring an additional 976,110 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.