SITE Centers Corp. (NYSE:SITC) EVP John M. Cattonar Sells 8,794 Shares

SITE Centers Corp. (NYSE:SITC) EVP John M. Cattonar sold 8,794 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

SITE Centers Price Performance

Shares of NYSE SITC traded down $0.06 during midday trading on Thursday, reaching $15.31. 537,619 shares of the company were exchanged, compared to its average volume of 768,674. The stock’s 50-day moving average price is $15.93 and its 200-day moving average price is $103.52. The stock has a market cap of $802.70 million, a P/E ratio of 1.12 and a beta of 1.61. 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 one year low of $14.84 and a one year high of $64.44.

SITE Centers (NYSE:SITC) last released 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 firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company’s revenue was down 37.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 EPS. On average, sell-side analysts anticipate that SITE Centers Corp. will post 3.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SITE Centers

Hedge funds have recently added to or reduced their stakes in the stock. Vestcor Inc purchased a new stake in shares of SITE Centers during the third quarter valued at approximately $95,000. Allspring Global Investments Holdings LLC purchased a new stake in SITE Centers during the second quarter valued at about $42,000. Neo Ivy Capital Management bought a new position in SITE Centers in the 3rd quarter worth approximately $202,000. Systematic Financial Management LP purchased a new position in shares of SITE Centers in the third quarter valued at $203,000. Finally, Quarry LP increased its position in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after buying an additional 2,857 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SITC shares. Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Morgan Stanley lifted their target price on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Truist Financial lifted their price target on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Piper Sandler cut their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Compass Point decreased their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SITE Centers currently 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.