APG Asset Management US Inc. Grows Holdings in SITE Centers Corp. (NYSE:SITC)

APG Asset Management US Inc. raised its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 108.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,381 shares of the company's stock after acquiring an additional 417,947 shares during the period. APG Asset Management US Inc. owned about 1.53% of SITE Centers worth $12,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in SITE Centers by 17.9% in the 4th quarter. Renaissance Technologies LLC now owns 505,236 shares of the company's stock valued at $7,725,000 after buying an additional 76,677 shares in the last quarter. Invesco Ltd. boosted its position in shares of SITE Centers by 777.4% in the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock valued at $32,432,000 after acquiring an additional 1,879,351 shares during the period. Aristides Capital LLC purchased a new stake in shares of SITE Centers during the 4th quarter valued at $205,000. Wells Fargo & Company MN grew its position in SITE Centers by 26.5% in the fourth quarter. Wells Fargo & Company MN now owns 28,322 shares of the company's stock worth $433,000 after acquiring an additional 5,927 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in SITE Centers during the fourth quarter valued at about $285,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

SITE Centers Stock Performance

SITC remained flat at $11.36 during trading on Monday. The company's stock had a trading volume of 94,562 shares, compared to its average volume of 887,395. SITE Centers Corp. has a 1-year low of $10.46 and a 1-year high of $64.44. The business's 50-day moving average is $13.30 and its 200 day moving average is $15.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The firm has a market cap of $595.60 million, a PE ratio of 0.83 and a beta of 1.30.

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SITE Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The business had revenue of $32.87 million during the quarter, compared to analysts' expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, equities analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SITC. Piper Sandler cut their price objective on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company decreased their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $35.25.

SITE Centers Profile

SITE Centers is an owner and manager of open-air shopping centers located in suburban, high household income communities. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol SITC.