SITE Centers (NYSE:SITC) Sets New 12-Month Low – Time to Sell?

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

Analyst Ratings Changes

A number of research firms recently issued reports on SITC. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Piper Sandler reduced their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Compass Point dropped their target price on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. StockNews.com initiated coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Finally, Citigroup reduced their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $36.04.

SITE Centers Stock Performance

The business has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $87.86. The company has a market cap of $771.25 million, a PE 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.

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

Insider Transactions at SITE Centers

In other news, Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the transaction, the director now owns 29,082 shares in the company, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the sale, the chief executive officer now directly owns 136,008 shares in the company, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock worth $2,791,693 over the last three months. 10.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SITE Centers

Several institutional investors have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC acquired a new position in SITE Centers in the fourth quarter valued at $606,000. World Investment Advisors LLC purchased a new stake in shares of SITE Centers in the 3rd quarter valued at about $622,000. Virtu Financial LLC acquired a new stake in shares of SITE Centers in the 3rd quarter valued at about $2,399,000. Neo Ivy Capital Management purchased a new position in SITE Centers during the 3rd quarter worth approximately $202,000. Finally, Vestcor Inc acquired a new position in SITE Centers during the third quarter worth approximately $95,000. Hedge funds and other 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.