Fisher Asset Management LLC Reduces Position in SITE Centers Corp. (NYSE:SITC)

Fisher Asset Management LLC lessened its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 75.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,969 shares of the company's stock after selling 973,331 shares during the quarter. Fisher Asset Management LLC owned about 0.61% of SITE Centers worth $19,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SITC. O Shaughnessy Asset Management LLC purchased a new position in shares of SITE Centers in the 1st quarter valued at about $147,000. Price T Rowe Associates Inc. MD lifted its position in shares of SITE Centers by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 131,109 shares of the company's stock valued at $1,921,000 after buying an additional 6,943 shares in the last quarter. Diversified Trust Co purchased a new position in shares of SITE Centers during the 2nd quarter valued at approximately $152,000. Vanderbilt University grew its stake in SITE Centers by 10.0% in the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company's stock valued at $179,000 after acquiring an additional 1,126 shares during the period. Finally, TCW Group Inc. raised its position in SITE Centers by 91.6% during the second quarter. TCW Group Inc. now owns 214,796 shares of the company's stock worth $3,115,000 after acquiring an additional 102,673 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Price Performance

Shares of NYSE:SITC traded down $0.20 during trading on Thursday, hitting $15.63. 846,396 shares of the stock were exchanged, compared to its average volume of 693,678. The company has a market cap of $819.48 million, a PE ratio of 1.14 and a beta of 1.62. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $23.40 and a two-hundred day moving average price of $133.31. SITE Centers Corp. has a 12-month low of $15.43 and a 12-month high of $64.44.

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

Wall Street Analyst Weigh In

SITC has been the topic of several research analyst reports. StockNews.com initiated coverage on SITE Centers in a report on Tuesday. They issued a "buy" rating on the stock. Morgan Stanley raised their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Truist Financial raised their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Wednesday, August 28th. Compass Point decreased their price target on SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Finally, Piper Sandler dropped their target price on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.89.

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.