SITE Centers Corp. (NYSE:SITC) Short Interest Update

SITE Centers Corp. (NYSE:SITC) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 2,840,000 shares, a decline of 32.5% from the March 15th total of 4,210,000 shares. Based on an average daily trading volume, of 970,400 shares, the short-interest ratio is currently 2.9 days. Currently, 5.7% of the shares of the stock are short sold.

SITE Centers Stock Up 1.8 %

Shares of NYSE SITC opened at $11.86 on Friday. The firm has a 50-day simple moving average of $12.97 and a two-hundred day simple moving average of $14.80. SITE Centers has a 1 year low of $10.46 and a 1 year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The company has a market cap of $621.87 million, a P/E ratio of 0.87 and a beta of 1.30.

SITE Centers (NYSE:SITC) last issued its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Research analysts anticipate that SITE Centers will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

SITC has been the subject of several research reports. Wells Fargo & Company lowered 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. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler decreased their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Eight investment 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 currently has an average rating of “Hold” and an average target price of $35.25.

Hedge Funds Weigh In On SITE Centers

Institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its holdings in SITE Centers by 3.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after purchasing an additional 730 shares during the period. Van ECK Associates Corp grew its position in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after buying an additional 833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of SITE Centers by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock valued at $413,000 after buying an additional 1,011 shares during the period. Deutsche Bank AG raised its holdings in shares of SITE Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock valued at $974,000 after acquiring an additional 1,195 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in SITE Centers by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 30,425 shares of the company’s stock worth $465,000 after acquiring an additional 1,598 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

About SITE Centers

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.