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

SITE Centers Corp. (NYSE:SITC - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 2,190,000 shares, a decline of 20.9% from the April 30th total of 2,770,000 shares. Currently, 4.4% of the company's shares are short sold. Based on an average daily trading volume, of 897,400 shares, the days-to-cover ratio is currently 2.4 days.

Hedge Funds Weigh In On SITE Centers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in shares of SITE Centers by 72.4% in the 4th quarter. SG Americas Securities LLC now owns 28,130 shares of the company's stock worth $430,000 after buying an additional 11,812 shares during the last quarter. KBC Group NV lifted its position in SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after purchasing an additional 2,193 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in SITE Centers during the fourth quarter valued at $5,401,000. Graham Capital Wealth Management LLC purchased a new stake in SITE Centers in the 4th quarter worth approximately $2,226,000. Finally, Advisors Preferred LLC purchased a new stake in shares of SITE Centers in the fourth quarter worth $2,517,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on SITC shares. Wells Fargo & Company decreased their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Wall Street Zen cut shares of SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Finally, Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $35.25.

SITE Centers Stock Down 1.1%

SITE Centers stock traded down $0.13 during mid-day trading on Thursday, reaching $11.67. The stock had a trading volume of 770,721 shares, compared to its average volume of 919,607. The company has a market capitalization of $611.77 million, a price-to-earnings ratio of 0.85 and a beta of 1.33. The company has a 50-day moving average price of $11.89 and a two-hundred day moving average price of $13.73. SITE Centers has a one year low of $10.46 and a one 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.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million during the quarter, compared to the consensus estimate of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business's revenue for the quarter was down 66.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, analysts expect that SITE Centers will post 3.24 EPS for the current fiscal year.

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.