SITE Centers (NYSE:SITC) Reaches New 1-Year Low – Time to Sell?

SITE Centers Corp. (NYSE:SITC)’s share price reached a new 52-week low during trading on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

SITC has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Citigroup lowered their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Eight 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, SITE Centers currently has a consensus rating of “Hold” and a consensus target price of $35.61.

SITE Centers Stock Down 1.5 %

The firm has a market cap of $682.90 million, a price-to-earnings ratio of 0.95 and a beta of 1.63. The firm’s fifty day moving average is $14.76 and its two-hundred day moving average is $23.85. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, sell-side analysts expect that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, Director Dawn M. Sweeney sold 3,768 shares of the company’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 transaction, the director now owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were 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. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vestcor Inc bought a new position in shares of SITE Centers in the third quarter valued at $95,000. Neo Ivy Capital Management bought a new position in shares of SITE Centers in the third quarter valued at $202,000. Systematic Financial Management LP bought a new position in shares of SITE Centers in the third quarter valued at $203,000. KBC Group NV raised its stake in SITE Centers by 170.4% during 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 raised its stake in SITE Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares during the period. 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.