Short Interest in Site Centers Corp. (NYSE:SITC) Expands By 26.5%

Site Centers Corp. (NYSE:SITC) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 3,733,921 shares, an increase of 26.5% from the January 15th total of 2,951,609 shares. Based on an average daily volume of 924,448 shares, the days-to-cover ratio is currently 4.0 days. Approximately 7.9% of the shares of the company are sold short. Approximately 7.9% of the shares of the company are sold short. Based on an average daily volume of 924,448 shares, the days-to-cover ratio is currently 4.0 days.

Institutional Trading of Site Centers

Hedge funds have recently modified their holdings of the company. Gumshoe Capital Management LLC bought a new stake in shares of Site Centers during the fourth quarter valued at approximately $14,278,000. J. Goldman & Co LP acquired a new stake in Site Centers during the fourth quarter worth $3,351,000. AQR Capital Management LLC increased its holdings in Site Centers by 25.4% in the 4th quarter. AQR Capital Management LLC now owns 1,714,863 shares of the company’s stock valued at $11,009,000 after buying an additional 347,497 shares during the period. Laurion Capital Management LP acquired a new position in shares of Site Centers in the 4th quarter valued at $70,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Site Centers by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 100,420 shares of the company’s stock worth $645,000 after acquiring an additional 15,200 shares during the period. Institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SITC. Piper Sandler restated an “overweight” rating and issued a $8.00 price objective (down from $10.00) on shares of Site Centers in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Site Centers in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One investment 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 data from MarketBeat, Site Centers presently has a consensus rating of “Hold” and a consensus price target of $10.83.

Site Centers Stock Performance

NYSE:SITC traded up $0.11 during trading hours on Tuesday, hitting $6.57. 695,327 shares of the company traded hands, compared to its average volume of 719,659. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. Site Centers has a twelve month low of $5.97 and a twelve month high of $14.93. The firm has a 50-day moving average of $6.40 and a 200 day moving average of $8.08. The stock has a market capitalization of $344.87 million, a price-to-earnings ratio of 11.74 and a beta of 1.09.

Site Centers Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, December 15th.

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.