Site Centers Corp. (NYSE:SITC) Short Interest Up 26.5% in January

Site Centers Corp. (NYSE:SITC) was the recipient of a large increase in short interest in 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 short-interest ratio is presently 4.0 days. Approximately 7.9% of the company’s stock are short sold. Approximately 7.9% of the company’s stock are short sold. Based on an average daily volume of 924,448 shares, the short-interest ratio is presently 4.0 days.

Institutional Trading of Site Centers

Several hedge funds have recently added to or reduced their stakes in SITC. Royal Bank of Canada lifted its position in shares of Site Centers by 11.5% in the 1st quarter. Royal Bank of Canada now owns 139,626 shares of the company’s stock worth $1,793,000 after acquiring an additional 14,395 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Site Centers by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock valued at $362,000 after purchasing an additional 1,185 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Site Centers by 88.5% in the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock worth $9,313,000 after purchasing an additional 340,452 shares during the period. Jane Street Group LLC acquired a new stake in Site Centers during the first quarter worth $4,023,000. Finally, Strs Ohio bought a new stake in Site Centers in the 1st quarter valued at $114,000. Institutional investors own 88.70% of the company’s stock.

Site Centers Stock Up 0.7%

Shares of NYSE:SITC traded up $0.05 during trading on Monday, reaching $6.47. 444,766 shares of the company traded hands, compared to its average volume of 719,659. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.81. Site Centers has a 1-year low of $5.97 and a 1-year high of $15.20. The firm has a fifty day simple moving average of $6.43 and a 200 day simple moving average of $8.14. The firm has a market cap of $339.15 million, a P/E ratio of 11.54 and a beta of 1.09.

Site Centers Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Monday, December 15th.

Wall Street Analysts Forecast Growth

SITC has been the topic of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $8.00 price target (down previously from $10.00) on shares of Site Centers in a report on Monday, January 5th. Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of 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 given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.83.

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.