Site Centers Corp. (NYSE:SITC) Short Interest Down 48.5% in December

Site Centers Corp. (NYSE:SITC) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 2,983,218 shares, a drop of 48.5% from the December 15th total of 5,790,749 shares. Based on an average daily trading volume, of 2,162,530 shares, the short-interest ratio is presently 1.4 days. Currently, 6.3% of the company’s shares are sold short. Currently, 6.3% of the company’s shares are sold short. Based on an average daily trading volume, of 2,162,530 shares, the short-interest ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 price target (down previously from $10.00) on shares of Site Centers in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.83.

Site Centers Price Performance

NYSE SITC traded up $0.05 during midday trading on Friday, hitting $6.32. The company had a trading volume of 1,264,497 shares, compared to its average volume of 1,521,560. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $331.28 million, a PE ratio of 11.28 and a beta of 1.10. The firm has a 50-day moving average price of $6.78 and a 200-day moving average price of $8.86. Site Centers has a twelve month low of $6.20 and a twelve month high of $15.93.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, December 15th.

Institutional Investors Weigh In On Site Centers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rush Island Management LP raised its position in Site Centers by 16.9% in the second quarter. Rush Island Management LP now owns 2,749,546 shares of the company’s stock worth $31,097,000 after acquiring an additional 398,094 shares during the period. Newtyn Management LLC lifted its position in Site Centers by 76.1% in the 3rd quarter. Newtyn Management LLC now owns 1,936,630 shares of the company’s stock worth $17,449,000 after buying an additional 836,630 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Site Centers by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 1,604,961 shares of the company’s stock valued at $18,154,000 after acquiring an additional 44,716 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Site Centers by 771.0% in the third quarter. Jefferies Financial Group Inc. now owns 1,354,196 shares of the company’s stock worth $12,201,000 after purchasing an additional 1,198,725 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Site Centers by 22.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,071,421 shares of the company’s stock valued at $12,118,000 after purchasing an additional 198,145 shares during the period. 88.70% of the stock is owned by institutional investors.

Site Centers Company Profile

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.