SITE Centers Corp. (NYSE:SITC) Short Interest Down 12.5% in March

SITE Centers Corp. (NYSE:SITC) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 4,210,000 shares, a decrease of 12.5% from the February 28th total of 4,810,000 shares. Based on an average trading volume of 1,060,000 shares, the days-to-cover ratio is presently 4.0 days. Currently, 8.5% of the shares of the company are sold short.

Institutional Trading of SITE Centers

Large investors have recently bought and sold shares of the stock. Graham Capital Wealth Management LLC bought a new position in shares of SITE Centers during the fourth quarter valued at $2,226,000. Advisors Preferred LLC bought a new position in SITE Centers during the 4th quarter valued at about $2,517,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $19,612,000 after purchasing an additional 53,412 shares during the last quarter. Assetmark Inc. boosted its position in SITE Centers by 287.1% in the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company’s stock valued at $1,372,000 after buying an additional 66,529 shares in the last quarter. Finally, Amundi grew its stake in SITE Centers by 44.8% during the fourth quarter. Amundi now owns 49,206 shares of the company’s stock worth $736,000 after buying an additional 15,227 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Stock Performance

NYSE SITC opened at $12.74 on Wednesday. SITE Centers has a twelve month low of $12.47 and a twelve month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $667.70 million, a P/E ratio of 0.93 and a beta of 1.63. The company’s 50-day simple moving average is $14.02 and its 200 day simple moving average is $18.63.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. As a group, research analysts forecast that SITE Centers will post 3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. StockNews.com downgraded shares of SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, Citigroup decreased their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.25.

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.