SITE Centers Corp. (NYSE:SITC) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 64.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 70,940 shares of the company's stock after selling 128,121 shares during the period. Citigroup Inc. owned 0.14% of SITE Centers worth $4,292,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Landscape Capital Management L.L.C. bought a new stake in shares of SITE Centers in the 3rd quarter valued at about $319,000. Meeder Asset Management Inc. acquired a new stake in SITE Centers in the 3rd quarter worth approximately $2,596,000. Quest Partners LLC boosted its stake in SITE Centers by 1,046.5% in the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company's stock worth $1,839,000 after purchasing an additional 27,743 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in SITE Centers in the 3rd quarter worth approximately $617,000. Finally, Los Angeles Capital Management LLC acquired a new stake in SITE Centers in the 3rd quarter worth approximately $355,000. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Price Performance

SITE Centers stock traded up $0.03 during trading on Wednesday, reaching $15.62. The company had a trading volume of 688,352 shares, compared to its average volume of 695,932. The firm's 50-day simple moving average is $19.90 and its 200 day simple moving average is $126.72. SITE Centers Corp. has a 1-year low of $15.43 and a 1-year high of $64.44. The firm has a market capitalization of $818.96 million, a PE ratio of 1.14 and a beta of 1.61. 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 results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $89.43 million for the quarter, compared to analysts' expectations of $104.55 million. During the same quarter last year, the company earned $1.32 EPS. The firm's revenue for the quarter was down 37.5% compared to the same quarter last year. As a group, equities research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Truist Financial lifted their target price on shares of SITE Centers from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. StockNews.com assumed coverage on shares of SITE Centers in a research report on Wednesday. They set a "hold" rating for the company. Compass Point reduced their price target on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Stifel Nicolaus raised their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Wells Fargo & Company lowered shares of SITE Centers from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.38.

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.