SITE Centers Corp. (NYSE:SITC) Director Sells $58,554.72 in Stock

SITE Centers Corp. (NYSE:SITC) Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. The trade was a 11.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

SITE Centers Stock Performance

SITE Centers stock opened at $15.46 on Friday. 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 Corp. has a one year low of $14.84 and a one year high of $64.44. The stock’s 50 day moving average price is $16.03 and its 200 day moving average price is $108.98. The firm has a market capitalization of $810.57 million, a PE ratio of 1.13 and a beta of 1.61.

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

Hedge Funds Weigh In On SITE Centers

A number of institutional investors have recently made changes to their positions in SITC. Bank of Montreal Can raised its holdings in SITE Centers by 3,017.5% in the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after acquiring an additional 739,174 shares in the last quarter. APG Asset Management US Inc. lifted its position in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after purchasing an additional 535,550 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in SITE Centers in the second quarter valued at about $3,089,000. Algert Global LLC raised its stake in SITE Centers by 65.0% during the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after buying an additional 162,260 shares in the last quarter. Finally, Peregrine Capital Management LLC lifted its holdings in SITE Centers by 13.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company’s stock worth $7,090,000 after buying an additional 57,281 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial upped their price objective on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com started coverage on shares of SITE Centers in a research note on Wednesday, December 4th. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, Compass Point reduced their price target on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SITE Centers has an average rating of “Hold” and a consensus target price of $36.04.

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.