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

SITE Centers Corp. (NYSE:SITC) EVP John M. Cattonar sold 8,794 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

SITE Centers Stock Performance

Shares of SITC traded down $0.06 during trading hours on Thursday, reaching $15.31. 537,619 shares of the company traded hands, compared to its average volume of 768,674. The business has a fifty day moving average price of $15.93 and a 200-day moving average price of $103.52. SITE Centers Corp. has a 12-month low of $14.84 and a 12-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 capitalization of $802.70 million, a P/E ratio of 1.12 and a beta of 1.61.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $104.55 million. During the same period in the previous year, the firm earned $1.32 EPS. The business’s quarterly revenue was down 37.5% on a year-over-year basis. Equities analysts anticipate that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

Institutional Investors Weigh In On SITE Centers

Several institutional investors and hedge funds have recently added to or reduced their stakes in SITC. Vestcor Inc purchased a new position in SITE Centers in the 3rd quarter worth approximately $95,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of SITE Centers in the 2nd quarter valued at approximately $42,000. Neo Ivy Capital Management purchased a new stake in shares of SITE Centers during the 3rd quarter valued at approximately $202,000. Systematic Financial Management LP purchased a new position in shares of SITE Centers during the 3rd quarter worth $203,000. Finally, Quarry LP boosted its stake in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SITC shares. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Stifel Nicolaus increased their price target on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research report on Thursday, September 19th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Morgan Stanley raised their target price on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Citigroup dropped 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. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on 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.