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

SITE Centers Corp. (NYSE:SITC)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $11.87 and last traded at $12.09, with a volume of 83217 shares changing hands. The stock had previously closed at $12.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SITC shares. Piper Sandler dropped their target price 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. Citigroup cut their target price on shares of 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 reduced their price target on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.25.

SITE Centers Stock Performance

The stock’s 50 day moving average is $13.83 and its two-hundred day moving average is $18.20. The firm has a market capitalization of $612.64 million, a P/E ratio of 0.85 and a beta of 1.30. 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 issued its earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. As a group, equities analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SITE Centers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SITC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after acquiring an additional 53,412 shares during the period. Quantinno Capital Management LP bought a new stake in SITE Centers in the third quarter valued at approximately $244,000. Systematic Financial Management LP acquired a new stake in SITE Centers in the third quarter worth $203,000. Soros Fund Management LLC acquired a new position in shares of SITE Centers in the 3rd quarter valued at $3,025,000. Finally, Jane Street Group LLC increased its position in shares of SITE Centers by 3.3% in the 3rd quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after buying an additional 5,779 shares in the last quarter. 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.