SITE Centers (NYSE:SITC) Reaches New 12-Month Low – Here’s Why

SITE Centers Corp. (NYSE:SITC)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $14.55 and last traded at $14.86, with a volume of 54675 shares changing hands. The stock had previously closed at $14.98.

Analyst Ratings Changes

Several research analysts recently commented on the company. Compass Point dropped their price target 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. Piper Sandler cut their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Citigroup lowered their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. StockNews.com started coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lowered their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.75.

SITE Centers Stock Up 0.0 %

The company has a market cap of $781.47 million, a P/E ratio of 1.09 and a beta of 1.60. 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 business’s fifty day moving average is $15.27 and its two-hundred day moving average is $57.83.

Insider Activity

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the transaction, the director now directly owns 29,082 shares in the company, valued at $451,934.28. The trade was a 11.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,457 shares of company stock valued at $2,791,693. Corporate insiders own 10.10% of the company’s stock.

Institutional Investors Weigh In On SITE Centers

Several large investors have recently modified their holdings of SITC. Meeder Asset Management Inc. acquired a new stake in shares of SITE Centers in the 3rd quarter worth $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in SITE Centers by 19.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock worth $19,612,000 after acquiring an additional 53,412 shares during the period. Graham Capital Wealth Management LLC purchased a new stake in SITE Centers during the 4th quarter valued at about $2,226,000. CWA Asset Management Group LLC acquired a new position in shares of SITE Centers in the fourth quarter valued at about $606,000. Finally, Soros Fund Management LLC purchased a new position in shares of SITE Centers in the third quarter worth about $3,025,000. 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.