SITE Centers (NYSE:SITC) Hits New 12-Month Low - Should You Sell?

SITE Centers Corp. (NYSE:SITC - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.75 and last traded at $14.77, with a volume of 44703 shares. The stock had previously closed at $15.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Compass Point decreased their target price on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Piper Sandler decreased their price objective on SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut SITE Centers from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus boosted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a research note on Thursday, September 19th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.04.

SITE Centers Price Performance

The stock has a market capitalization of $784.88 million, a PE ratio of 1.10 and a beta of 1.61. The stock's 50 day moving average is $15.86 and its two-hundred day moving average is $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period in the prior year, the company earned $1.32 EPS. The firm's revenue was down 37.5% compared to the same quarter last year. On average, equities analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

Insider Buying and Selling

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the sale, the director now directly owns 29,082 shares of the company's stock, valued at $451,934.28. This trade represents a 11.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of SITE Centers 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is owned by insiders.

Institutional Investors Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently bought and sold shares of SITC. World Investment Advisors LLC acquired a new stake in SITE Centers during the third quarter worth $622,000. Virtu Financial LLC purchased a new position in shares of SITE Centers during the 3rd quarter worth $2,399,000. Neo Ivy Capital Management purchased a new stake in SITE Centers in the 3rd quarter valued at about $202,000. Vestcor Inc acquired a new position in SITE Centers in the third quarter valued at about $95,000. Finally, Jane Street Group LLC boosted its stake in SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company's stock worth $11,085,000 after buying an additional 5,779 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.