Daiwa Securities Group Inc. Sells 733,827 Shares of SITE Centers Corp. (NYSE:SITC)

Daiwa Securities Group Inc. lessened its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 97.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,686 shares of the company's stock after selling 733,827 shares during the period. Daiwa Securities Group Inc.'s holdings in SITE Centers were worth $240,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SITC. Vestcor Inc bought a new position in shares of SITE Centers in the third quarter valued at approximately $95,000. Neo Ivy Capital Management bought a new position in shares of SITE Centers in the third quarter valued at approximately $202,000. Systematic Financial Management LP bought a new position in shares of SITE Centers in the third quarter valued at approximately $203,000. KBC Group NV raised its stake in shares of SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of SITE Centers in the third quarter valued at approximately $244,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler lowered their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Citigroup lowered their target price on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, SITE Centers currently has an average rating of "Hold" and an average price target of $35.61.

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Insider Transactions at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.10% of the company's stock.

SITE Centers Trading Down 0.4 %

Shares of NYSE SITC traded down $0.05 during midday trading on Thursday, reaching $12.80. 687,302 shares of the stock were exchanged, compared to its average volume of 753,982. The business has a 50-day simple moving average of $14.43 and a two-hundred day simple moving average of $21.76. The company has a market capitalization of $671.10 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. SITE Centers Corp. has a 12 month low of $12.58 and a 12 month high of $64.44. 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 (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, equities research analysts expect that SITE Centers Corp. will post 3.24 EPS for the current 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.