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 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 in the company, valued at $451,934.28. This represents a 11.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

SITE Centers Stock Performance

SITC stock traded down $0.14 during trading on Wednesday, hitting $15.28. 1,953,011 shares of the company’s stock traded hands, compared to its average volume of 726,957. The stock has a fifty day moving average price of $16.16 and a two-hundred day moving average price of $111.83. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a 52 week low of $15.21 and a 52 week high of $64.44. The stock has a market capitalization of $801.13 million, a price-to-earnings ratio of 1.12 and a beta of 1.61.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share 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 analyst estimates of $104.55 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. SITE Centers’s quarterly revenue was down 37.5% on a year-over-year basis. As a group, equities analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

Institutional Trading of SITE Centers

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in SITE Centers by 2.2% in the second quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company’s stock worth $1,282,000 after buying an additional 1,894 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of SITE Centers by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after acquiring an additional 1,500 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in SITE Centers in the 2nd quarter valued at about $42,000. Signature Estate & Investment Advisors LLC acquired a new position in SITE Centers during the 2nd quarter valued at about $248,000. Finally, Panagora Asset Management Inc. bought a new position in SITE Centers in the 2nd quarter worth about $3,089,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SITC. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Citigroup cut their price target 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. Truist Financial increased their price target on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Morgan Stanley increased their target price on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and an average 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.