Assetmark Inc. Has $1.37 Million Holdings in SITE Centers Corp. (NYSE:SITC)

Assetmark Inc. grew its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 287.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,705 shares of the company's stock after purchasing an additional 66,529 shares during the quarter. Assetmark Inc. owned approximately 0.17% of SITE Centers worth $1,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. acquired a new position in SITE Centers during the 4th quarter valued at about $34,297,000. Robeco Institutional Asset Management B.V. bought a new stake in SITE Centers in the fourth quarter valued at approximately $5,401,000. Advisors Preferred LLC bought a new stake in shares of SITE Centers during the fourth quarter worth approximately $2,517,000. Bank of New York Mellon Corp increased its position in SITE Centers by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company's stock worth $9,402,000 after buying an additional 157,818 shares during the period. Finally, Graham Capital Wealth Management LLC acquired a new stake in shares of SITE Centers in the fourth quarter valued at approximately $2,226,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Activity at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was 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 is available through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the completion of the transaction, the director now owns 29,082 shares in the company, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their position. The disclosure for this sale can be found here. 10.10% of the stock is currently owned by corporate insiders.

SITE Centers Trading Down 1.4 %

Shares of NYSE:SITC opened at $12.83 on Wednesday. The stock has a 50 day moving average of $14.71 and a 200 day moving average of $23.51. SITE Centers Corp. has a 12-month low of $12.78 and a 12-month high of $32.22. The company has a market cap of $672.41 million, a PE ratio of 0.94 and a beta of 1.63. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

Remove Ads

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (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 business had revenue of $32.87 million for the quarter, compared to analysts' expectations of $43.58 million. As a group, equities research analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SITC shares. Citigroup lowered their price objective on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Piper Sandler decreased 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 report on Friday, February 28th. Wells Fargo & Company cut 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 note on Wednesday, January 29th. Finally, StockNews.com cut shares of SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.61.

SITE Centers Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.