Dawn M. Sweeney Sells 3,768 Shares of SITE Centers Corp. (NYSE:SITC) Stock

SITE Centers Corp. (NYSE:SITC) Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website.

SITE Centers Stock Down 1.7 %

SITC stock opened at $15.01 on Friday. The firm has a market cap of $786.97 million, a PE ratio of 1.10 and a beta of 1.61. SITE Centers Corp. has a one year low of $15.00 and a one year high of $64.44. 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 firm’s 50 day moving average price is $16.07 and its 200-day moving average price is $110.49.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. The company had revenue of $89.43 million for the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers’s revenue for the quarter 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, equities research analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current year.

Institutional Trading of SITE Centers

Institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System grew its stake in SITE Centers by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock worth $765,000 after purchasing an additional 976 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of SITE Centers by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after buying an additional 1,500 shares during the period. Vestcor Inc acquired a new stake in SITE Centers in the third quarter valued at approximately $95,000. Van ECK Associates Corp lifted its stake in SITE Centers by 6.3% in the second quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after acquiring an additional 1,723 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in SITE Centers by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock worth $1,510,000 after acquiring an additional 1,751 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SITC shares. Citigroup reduced their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. KeyCorp reaffirmed a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Wells Fargo & Company cut shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Truist Financial upped their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler decreased their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SITE Centers has an average rating of “Hold” and an average price target of $36.04.

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.