Site Centers Corp. (NYSE:SITC) Short Interest Up 51.8% in December

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

Institutional Investors Weigh In On Site Centers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SITC. Irenic Capital Management LP acquired a new stake in Site Centers in the first quarter valued at approximately $18,911,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Site Centers during the 1st quarter worth approximately $897,000. AQR Capital Management LLC lifted its position in shares of Site Centers by 20.0% during the 1st quarter. AQR Capital Management LLC now owns 873,276 shares of the company’s stock valued at $11,213,000 after buying an additional 145,604 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Site Centers during the 2nd quarter valued at approximately $999,000. Finally, Caxton Associates LLP acquired a new stake in Site Centers in the 1st quarter valued at $5,037,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Site Centers Stock Down 0.1%

NYSE:SITC traded down $0.01 during mid-day trading on Monday, hitting $6.49. 87,178 shares of the company’s stock traded hands, compared to its average volume of 1,102,437. The company has a fifty day moving average of $7.32 and a 200 day moving average of $9.45. 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 company has a market capitalization of $340.20 million, a P/E ratio of 11.58 and a beta of 1.09.

Site Centers Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, December 15th.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SITC. Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research report on Monday, December 22nd. LADENBURG THALM/SH SH started coverage on shares of Site Centers in a report on Tuesday, September 9th. They issued a “neutral” rating and a $10.00 target price for the company. Finally, Piper Sandler decreased their price target on shares of Site Centers from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.50.

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.