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

SITE Centers Corp. (NYSE:SITC) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $15.93 and last traded at $16.43, with a volume of 243947 shares traded. The stock had previously closed at $17.11.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SITC shares. Compass Point reduced their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Stifel Nicolaus upped their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.18.

SITE Centers Stock Performance

The firm’s 50 day simple moving average is $41.62 and its 200-day simple moving average is $162.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 7.36 and a current ratio of 7.36. The company has a market capitalization of $846.11 million, a price-to-earnings ratio of 2.02 and a beta of 1.64.

SITE Centers (NYSE:SITC) last posted its earnings results on Tuesday, July 30th. The company reported $17.76 EPS for the quarter, topping the consensus estimate of $3.84 by $13.92. SITE Centers had a net margin of 91.77% and a return on equity of 23.05%. The firm had revenue of $113.48 million for the quarter, compared to the consensus estimate of $113.23 million. During the same period in the prior year, the business posted $4.64 earnings per share. The business’s quarterly revenue was down 16.5% on a year-over-year basis. Analysts expect that SITE Centers Corp. will post 3.39 EPS for the current year.

Institutional Trading of SITE Centers

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in SITE Centers by 508.3% in the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock worth $386,000 after purchasing an additional 5,332 shares during the last quarter. AlphaMark Advisors LLC bought a new position in SITE Centers during the third quarter valued at about $319,000. SG Americas Securities LLC raised its holdings in SITE Centers by 115.1% in the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock valued at $987,000 after acquiring an additional 8,731 shares in the last quarter. Quarry LP grew its holdings in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of SITE Centers by 65.0% during the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after purchasing an additional 162,260 shares during the period. 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.