SITE Centers Corp. (NYSE:SITC - Get Free Report) CEO David R. Lukes sold 168,895 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares of the company's stock, valued at $2,093,163.12. The trade was a 55.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
SITE Centers Trading Up 1.2 %
NYSE SITC opened at $15.58 on Friday. SITE Centers Corp. has a 12 month low of $15.24 and a 12 month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $816.60 million, a PE ratio of 1.14 and a beta of 1.61. The business's 50-day moving average price is $16.27 and its two-hundred day moving average price is $117.84.
SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period last year, the business posted $1.32 EPS. The business's revenue was down 37.5% compared to the same quarter last year. On average, analysts expect that SITE Centers Corp. will post 3.36 EPS for the current year.
Analyst Upgrades and Downgrades
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Several equities research analysts have recently commented on the company. Citigroup cut their price objective on SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday. Stifel Nicolaus increased their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a research note on Thursday, September 19th. Morgan Stanley lifted their price objective 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. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Finally, KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, SITE Centers currently has an average rating of "Hold" and a consensus price target of $36.04.
View Our Latest Stock Report on SITC
Hedge Funds Weigh In On SITE Centers
A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers during the second quarter worth about $42,000. Quarry LP boosted its stake in SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after purchasing an additional 2,857 shares during the last quarter. Vestcor Inc bought a new stake in SITE Centers during the 3rd quarter worth approximately $95,000. Diversified Trust Co purchased a new stake in shares of SITE Centers in the second quarter worth approximately $152,000. Finally, Evergreen Capital Management LLC bought a new position in shares of SITE Centers in the second quarter valued at approximately $167,000. 88.70% of the stock is owned by institutional investors and hedge funds.
About SITE Centers
(
Get Free Report)
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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