Factorial Partners LLC Makes New $1.68 Million Investment in SITE Centers Corp. (NYSE:SITC)

Factorial Partners LLC acquired a new position in SITE Centers Corp. (NYSE:SITC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 110,000 shares of the company's stock, valued at approximately $1,682,000. Factorial Partners LLC owned 0.21% of SITE Centers at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SITC. Graham Capital Wealth Management LLC acquired a new position in SITE Centers in the fourth quarter valued at approximately $2,226,000. Advisors Preferred LLC acquired a new position in shares of SITE Centers in the 4th quarter valued at $2,517,000. Meeder Asset Management Inc. purchased a new stake in SITE Centers during the third quarter worth $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in SITE Centers by 19.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company's stock valued at $19,612,000 after buying an additional 53,412 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of SITE Centers in the fourth quarter worth about $606,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Insider Buying and Selling

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the sale, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. The trade was a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the transaction, the director now owns 29,082 shares of the company's stock, valued at approximately $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,457 shares of company stock worth $2,791,693. Insiders own 10.10% of the company's stock.

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SITE Centers Price Performance

Shares of NYSE:SITC traded down $0.09 during midday trading on Wednesday, hitting $13.35. The company had a trading volume of 914,268 shares, compared to its average volume of 822,302. SITE Centers Corp. has a twelve month low of $13.13 and a twelve month high of $32.22. The stock has a market cap of $700.05 million, a price-to-earnings ratio of 0.98 and a beta of 1.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The business's 50-day simple moving average is $14.92 and its 200-day simple moving average is $25.20.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SITC shares. Wells Fargo & Company cut their price target on 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. Citigroup decreased their target price on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.61.

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.