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

Charles Schwab Investment Management Inc. reduced its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 833,759 shares of the company's stock after selling 58,094 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.59% of SITE Centers worth $12,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SITC. Factorial Partners LLC acquired a new stake in shares of SITE Centers during the fourth quarter worth $1,682,000. Illinois Municipal Retirement Fund raised its position 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 worth $385,000 after acquiring an additional 730 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SITE Centers by 34.5% in the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company's stock valued at $9,402,000 after purchasing an additional 157,818 shares during the period. Ieq Capital LLC bought a new stake in shares of SITE Centers during the 4th quarter valued at about $519,000. Finally, Principal Financial Group Inc. grew its stake in SITE Centers by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 271,067 shares of the company's stock worth $4,145,000 after purchasing an additional 11,278 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Stock Down 0.9 %

Shares of SITE Centers stock traded down $0.12 during trading hours on Tuesday, reaching $13.03. The company's stock had a trading volume of 692,992 shares, compared to its average volume of 771,004. The company has a market capitalization of $683.16 million, a P/E ratio of 0.95 and a beta of 1.63. The stock's fifty day simple moving average is $14.32 and its two-hundred day simple moving average is $20.54. SITE Centers Corp. has a one year low of $12.58 and a one year 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.

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SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. On average, research analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup dropped their price target on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Piper Sandler decreased their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their price objective on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. 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 company presently has an average rating of "Hold" and a consensus target price of $35.61.

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.