Assetmark Inc. boosted its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 287.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,705 shares of the company's stock after buying an additional 66,529 shares during the quarter. Assetmark Inc. owned 0.17% of SITE Centers worth $1,372,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in SITC. Illinois Municipal Retirement Fund raised its holdings in shares of SITE Centers by 3.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock valued at $385,000 after purchasing an additional 730 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after purchasing an additional 833 shares in the last quarter. Vestcor Inc acquired a new stake in shares of SITE Centers in the 3rd quarter valued at $95,000. KBC Group NV raised its holdings in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of SITE Centers in the 3rd quarter valued at $202,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SITC. Citigroup reduced their price objective on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com downgraded shares of SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $35.61.
Read Our Latest Stock Analysis on SITC
Insider Activity at SITE Centers
In other news, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now owns 29,082 shares of the company's stock, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 10.10% of the company's stock.
SITE Centers Stock Performance
Shares of SITC stock traded up $0.05 during mid-day trading on Friday, hitting $12.71. The stock had a trading volume of 819,541 shares, compared to its average volume of 752,278. SITE Centers Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The firm has a market cap of $666.12 million, a PE ratio of 0.93 and a beta of 1.63. 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 company's 50-day simple moving average is $14.57 and its 200-day simple moving average is $23.03.
SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Sell-side analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current year.
About SITE Centers
(
Free Report)
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.
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