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

SITE Centers Corp. (NYSE:SITC) Director Dawn M. Sweeney sold 3,768 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SITE Centers Price Performance

SITC stock opened at $15.27 on Thursday. The business’s fifty day moving average price is $16.11 and its 200 day moving average price is $111.16. SITE Centers Corp. has a 12-month low of $15.21 and a 12-month high of $64.44. The company has a market capitalization of $800.61 million, a PE ratio of 1.12 and a beta of 1.61. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC) last issued 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. The business 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%. The business’s quarterly revenue was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 earnings per share. On average, sell-side analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current year.

Institutional Trading of SITE Centers

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its position in shares of SITE Centers by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock valued at $765,000 after purchasing an additional 976 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in SITE Centers by 1.7% in the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock valued at $1,315,000 after buying an additional 1,500 shares during the last quarter. Vestcor Inc acquired a new stake in SITE Centers in the third quarter valued at $95,000. Van ECK Associates Corp lifted its holdings in SITE Centers by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after buying an additional 1,723 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SITC has been the topic of a number of analyst reports. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. StockNews.com began coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Truist Financial increased their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Compass Point cut their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.