Site Centers (NYSE:SITC) Hits New 12-Month Low - Should You Sell?

Key Points

• Site Centers Corp. (NYSE:SITC) has reached a new 12-month low, with shares trading at $8.92 compared to a previous close of $12.28.
• Analysts have given the stock a consensus rating of "Hold" with a price target of $31.46, although two analysts have rated it as "Buy".
• The company recently paid a special dividend of $3.25 per share on August 29th, affecting stockholders of record on August 15th.

Site Centers Corp. (NYSE:SITC - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $8.92 and last traded at $8.97, with a volume of 2081248 shares traded. The stock had previously closed at $12.28.

Analysts Set New Price Targets

A number of research firms have weighed in on SITC. Wall Street Zen upgraded shares of Site Centers from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Piper Sandler restated an "overweight" rating on shares of Site Centers in a research note on Tuesday, July 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Site Centers presently has an average rating of "Hold" and a consensus price target of $31.46.

Site Centers Stock Down 27.0%

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $470.39 million, a price-to-earnings ratio of 1.33 and a beta of 1.40. The firm's 50 day moving average price is $11.52 and its two-hundred day moving average price is $12.11.

Site Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. The company had revenue of $30.66 million during the quarter, compared to analysts' expectations of $33.10 million. During the same period last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was down 63.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $3.25 per share. The ex-dividend date of this dividend was Tuesday, September 2nd.

Institutional Trading of Site Centers

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in Site Centers by 275.2% during the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company's stock worth $27,000 after acquiring an additional 1,764 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Site Centers by 4,078.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock worth $43,000 after acquiring an additional 3,671 shares during the last quarter. AlphaQuest LLC boosted its position in Site Centers by 256.7% during the first quarter. AlphaQuest LLC now owns 4,848 shares of the company's stock worth $62,000 after acquiring an additional 3,489 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Site Centers by 61.7% in the 1st quarter. Covestor Ltd now owns 6,072 shares of the company's stock valued at $78,000 after purchasing an additional 2,316 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Site Centers in the 1st quarter valued at $114,000. Institutional investors and hedge funds 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.

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