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

Site Centers Corp. (NYSE:SITC) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 5,790,749 shares, an increase of 51.8% from the November 30th total of 3,815,309 shares. Approximately 12.3% of the shares of the stock are short sold. Based on an average trading volume of 1,662,941 shares, the days-to-cover ratio is presently 3.5 days. Based on an average trading volume of 1,662,941 shares, the days-to-cover ratio is presently 3.5 days. Approximately 12.3% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen lowered Site Centers from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. LADENBURG THALM/SH SH assumed coverage on shares of Site Centers in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 target price for the company. Piper Sandler decreased their price target on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.50.

Institutional Trading of Site Centers

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Site Centers by 275.2% during the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock worth $27,000 after purchasing an additional 1,764 shares during the period. Federated Hermes Inc. lifted its position in Site Centers by 1,792.1% in the third quarter. Federated Hermes Inc. now owns 4,560 shares of the company’s stock valued at $41,000 after buying an additional 4,319 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Site Centers by 4,078.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock valued at $43,000 after buying an additional 3,671 shares during the last quarter. AlphaQuest LLC boosted its stake 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 buying an additional 3,489 shares during the period. Finally, Covestor Ltd increased its position in shares of Site Centers by 41.4% during the third quarter. Covestor Ltd now owns 7,218 shares of the company’s stock valued at $65,000 after acquiring an additional 2,112 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Site Centers Trading Down 0.4%

Shares of SITC stock traded down $0.03 on Wednesday, hitting $6.41. 116,537 shares of the stock traded hands, compared to its average volume of 1,100,607. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59. Site Centers has a twelve month low of $6.23 and a twelve month high of $15.93. The firm’s 50-day moving average price is $7.22 and its two-hundred day moving average price is $9.38. The stock has a market capitalization of $336.02 million, a PE ratio of 11.44 and a beta of 1.09.

Site Centers Announces Dividend

The company also recently announced a special dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $1.00 dividend. The ex-dividend date was Monday, December 15th. Site Centers’s payout ratio is presently 92.86%.

About Site Centers

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.