SITE Centers (NYSE:SITC) Hits New 1-Year Low – Should You Sell?

SITE Centers Corp. (NYSE:SITC)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $14.62 and last traded at $14.62, with a volume of 48749 shares traded. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SITC shares. StockNews.com initiated coverage on SITE Centers in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Morgan Stanley raised their price target on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Stifel Nicolaus raised their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Finally, Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.04.

SITE Centers Price Performance

The company has a market capitalization of $771.25 million, a P/E ratio of 1.08 and a beta of 1.61. 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 company has a fifty day moving average price of $15.56 and a 200 day moving average price of $87.86.

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

Insider Activity at SITE Centers

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $133,844.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David R. Lukes sold 168,895 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the sale, the chief executive officer now owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. The trade was a 55.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,457 shares of company stock valued at $2,791,693 over the last 90 days. 10.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SITE Centers

Several institutional investors have recently bought and sold shares of SITC. Vestcor Inc acquired a new position in shares of SITE Centers during the third quarter valued at $95,000. Neo Ivy Capital Management acquired a new position in SITE Centers during the 3rd quarter valued at about $202,000. Systematic Financial Management LP bought a new position in shares of SITE Centers in the 3rd quarter valued at about $203,000. Quarry LP grew its position in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after buying an additional 2,857 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of SITE Centers during the third quarter worth approximately $244,000. 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.