BNP Paribas Financial Markets Sells 37,951 Shares of SITE Centers Corp. (NYSE:SITC)

BNP Paribas Financial Markets lowered its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 76.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,943 shares of the company's stock after selling 37,951 shares during the quarter. BNP Paribas Financial Markets' holdings in SITE Centers were worth $723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new stake in shares of SITE Centers in the second quarter valued at about $152,000. TCW Group Inc. boosted its stake in SITE Centers by 91.6% during the 2nd quarter. TCW Group Inc. now owns 214,796 shares of the company's stock valued at $3,115,000 after purchasing an additional 102,673 shares during the period. Nisa Investment Advisors LLC grew its holdings in SITE Centers by 2.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company's stock valued at $1,282,000 after buying an additional 1,894 shares during the last quarter. Louisiana State Employees Retirement System increased its position in SITE Centers by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company's stock worth $1,315,000 after buying an additional 1,500 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of SITE Centers during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Activity

In other news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the transaction, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. The trade was a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SITC has been the topic of several research analyst reports. KeyCorp restated a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. Piper Sandler decreased their price target on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. StockNews.com started coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They set a "hold" rating for the company. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, Morgan Stanley boosted their price target on SITE Centers from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, SITE Centers has a consensus rating of "Hold" and a consensus target price of $36.04.

SITE Centers Price Performance

NYSE:SITC traded up $0.03 during mid-day trading on Friday, hitting $15.61. The company's stock had a trading volume of 1,919,333 shares, compared to its average volume of 709,416. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $16.27 and a 200-day moving average of $117.84. The company has a market capitalization of $818.17 million, a price-to-earnings ratio of 1.14 and a beta of 1.61. SITE Centers Corp. has a fifty-two week low of $15.24 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping the consensus estimate of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same quarter last year, the company earned $1.32 EPS. SITE Centers's revenue was down 37.5% on a year-over-year basis. As a group, equities analysts forecast that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

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.