Shares of SITE Centers Corp. (NYSE:SITC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $12.58 and last traded at $12.70, with a volume of 52780 shares changing hands. The stock had previously closed at $12.67.
Wall Street Analyst Weigh In
Several research analysts have issued reports on SITC shares. Citigroup dropped their price objective 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. Wells Fargo & Company lowered their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $35.61.
Read Our Latest Stock Analysis on SITC
SITE Centers Stock Down 0.0 %
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 company has a market cap of $670.84 million, a P/E ratio of 0.94 and a beta of 1.63. The firm's 50 day moving average price is $14.35 and its two-hundred day moving average price is $20.85.
SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The firm had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Equities research analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP John M. Cattonar sold 8,794 shares of the business's stock in a transaction dated 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 at the SEC website. 10.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On SITE Centers
Several hedge funds and other institutional investors have recently modified their holdings of SITC. Illinois Municipal Retirement Fund boosted its position in shares of SITE Centers by 3.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock valued at $385,000 after purchasing an additional 730 shares in the last quarter. Van ECK Associates Corp lifted its position in SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after acquiring an additional 833 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in SITE Centers by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock valued at $413,000 after acquiring an additional 1,011 shares during the period. Deutsche Bank AG grew its holdings in SITE Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock worth $974,000 after purchasing an additional 1,195 shares during the period. Finally, Vestcor Inc purchased a new stake in SITE Centers in the third quarter worth about $95,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
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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