Charles Schwab Investment Management Inc. Decreases Stake in SITE Centers Corp. (NYSE:SITC)

Charles Schwab Investment Management Inc. reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 73.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891,853 shares of the company's stock after selling 2,497,250 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.70% of SITE Centers worth $53,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of SITE Centers by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company's stock valued at $39,426,000 after acquiring an additional 31,529 shares in the last quarter. APG Asset Management US Inc. lifted its stake in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company's stock worth $12,996,000 after buying an additional 535,550 shares during the period. Renaissance Technologies LLC grew its holdings in shares of SITE Centers by 6.8% during the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company's stock valued at $12,794,000 after buying an additional 56,013 shares during the last quarter. Bank of Montreal Can raised its stake in SITE Centers by 3,017.5% in the 2nd quarter. Bank of Montreal Can now owns 763,670 shares of the company's stock worth $11,081,000 after acquiring an additional 739,174 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in SITE Centers by 13.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company's stock worth $7,090,000 after acquiring an additional 57,281 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SITC shares. KeyCorp restated a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. StockNews.com began coverage on shares of SITE Centers in a report on Tuesday, November 26th. They issued a "buy" rating on the stock. Compass Point reduced their target price on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Truist Financial upped their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Finally, Morgan Stanley lifted their price objective 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. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $58.89.

SITE Centers Price Performance

NYSE SITC traded down $0.11 during trading hours on Friday, reaching $15.52. The company's stock had a trading volume of 506,522 shares, compared to its average volume of 1,047,260. The firm has a market capitalization of $813.71 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The company's 50-day moving average is $21.66 and its two-hundred day moving average is $130.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a 1-year low of $15.43 and a 1-year high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business's quarterly revenue was down 37.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS. On average, equities analysts predict that SITE Centers Corp. will post 2.9 EPS for the current 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.