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SITE Centers (NYSE:SITC) Hits New 12-Month Low at $12.37

Financial News Live ·  Sep 16, 2022 10:51

SITE Centers Corp. (NYSE:SITC – Get Rating) reached a new 52-week low during trading on Friday . The company traded as low as $12.37 and last traded at $12.48, with a volume of 11998 shares traded. The stock had previously closed at $12.61.

Wall Street Analyst Weigh In

SITC has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of SITE Centers to $18.00 in a research report on Monday, July 4th. Jefferies Financial Group cut their price target on shares of SITE Centers from $17.00 to $13.00 and set a "hold" rating on the stock in a report on Thursday, June 30th. Morgan Stanley cut their price target on shares of SITE Centers from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, July 15th. Truist Financial cut their price target on shares of SITE Centers to $15.00 in a report on Tuesday, September 6th. Finally, StockNews.com raised shares of SITE Centers from a "sell" rating to a "hold" rating in a report on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SITE Centers currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.15.

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SITE Centers Trading Down 0.2 %

The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.97. The firm's 50 day simple moving average is $13.79 and its two-hundred day simple moving average is $13.74. The stock has a market cap of $2.69 billion, a P/E ratio of 18.01 and a beta of 1.51.

SITE Centers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Tuesday, September 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, September 19th. This represents a $0.52 annualized dividend and a yield of 4.13%. SITE Centers's payout ratio is 74.29%.

Hedge Funds Weigh In On SITE Centers

Institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC grew its position in shares of SITE Centers by 537.1% during the second quarter. Lindbrook Capital LLC now owns 3,899 shares of the company's stock worth $53,000 after acquiring an additional 3,287 shares during the last quarter. Anson Funds Management LP bought a new position in shares of SITE Centers during the first quarter worth about $75,000. Lazard Asset Management LLC bought a new position in shares of SITE Centers during the first quarter worth about $76,000. Acadian Asset Management LLC bought a new position in shares of SITE Centers during the fourth quarter worth about $91,000. Finally, KBC Group NV bought a new position in shares of SITE Centers during the first quarter worth about $126,000. Institutional investors own 87.89% of the company's stock.

About SITE Centers

(Get Rating)

SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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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