Capital Fund Management S.A. Makes New Investment in SITE Centers Corp. (NYSE:SITC)

Capital Fund Management S.A. acquired a new stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 151,536 shares of the company's stock, valued at approximately $2,317,000. Capital Fund Management S.A. owned approximately 0.29% of SITE Centers as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SITC. KBC Group NV boosted its stake in SITE Centers by 170.4% during 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 during the last quarter. Van ECK Associates Corp grew its holdings in SITE Centers by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after buying an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in SITE Centers during the 4th quarter worth $148,000. Baader Bank Aktiengesellschaft purchased a new stake in SITE Centers in the 4th quarter valued at about $163,000. Finally, Rangeley Capital LLC purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $186,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SITC shares. StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, Piper Sandler reduced their target price 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. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, SITE Centers currently has a consensus rating of "Hold" and a consensus price target of $35.25.

SITE Centers Stock Performance

SITE Centers stock traded up $0.21 during mid-day trading on Friday, reaching $11.86. The company's stock had a trading volume of 562,436 shares, compared to its average volume of 896,804. The company has a market capitalization of $621.87 million, a P/E ratio of 0.87 and a beta of 1.30. The firm's fifty day moving average price is $12.97 and its two-hundred day moving average price is $14.79. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The company had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Sell-side analysts predict that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

About SITE Centers

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.