Uncovering Institutional Buying In SITE Centers Corp (NYSE: SITC)

Currently, there are 52.26M common shares owned by the public and among those 47.86M shares have been available to trade.

The company’s stock has a 5-day price change of 46.66% and 51.33% over the past three months. SITC shares are trading 60.43% year to date (YTD), with the 12-month market performance up to 79.43% higher. It has a 12-month low price of $8.39 and touched a high of $12.57 over the same period. SITC has an average intraday trading volume of 2.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 48.80%, 44.99%, and 52.86% respectively.

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Institutional ownership of SITE Centers Corp (NYSE: SITC) shares accounts for 91.02% of the company’s 52.26M shares outstanding.

It has a market capitalization of $893.77M and a beta (3y monthly) value of 1.66. The stock’s trailing 12-month PE ratio is 2.00, while the earnings-per-share (ttm) stands at $8.52. The company has a debt-to-equity ratio at 0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.60% over the week and 2.24% over the month.

Earnings per share for the fiscal year are expected to decrease by -12.89%, and -101.85% over the next financial year. EPS should shrink at an annualized rate of -6.04% over the next five years, compared to 22.89% over the past 5-year period.

Wells Fargo coverage for the SITE Centers Corp (SITC) stock in a research note released on September 20, 2023 offered a Overweight rating with a price target of $15. Wells Fargo was of a view on May 24, 2023 that the stock is Equal Weight, while Mizuho gave the stock Neutral rating on January 10, 2023, issuing a price target of $14- $13. Mizuho on their part issued Buy rating on August 16, 2022.

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