Fmr LLC Trims Stock Position in SITE Centers Corp. (NYSE:SITC)

FMR LLC lowered its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,676,237 shares of the company's stock after selling 101,719 shares during the period. FMR LLC owned 14.64% of SITE Centers worth $117,370,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SITC. Graham Capital Wealth Management LLC acquired a new stake in SITE Centers during the 4th quarter worth about $2,226,000. Advisors Preferred LLC acquired a new position in shares of SITE Centers during the 4th quarter valued at $2,517,000. Amundi grew its holdings in SITE Centers by 44.8% in the fourth quarter. Amundi now owns 49,206 shares of the company's stock worth $736,000 after purchasing an additional 15,227 shares during the period. Assetmark Inc. raised its holdings in shares of SITE Centers by 287.1% during the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company's stock valued at $1,372,000 after purchasing an additional 66,529 shares during the period. Finally, Factorial Partners LLC bought a new position in shares of SITE Centers during the 4th quarter worth about $1,682,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Stock Performance

NYSE:SITC traded up $0.21 during trading on Friday, reaching $11.86. The company's stock had a trading volume of 562,436 shares, compared to its average volume of 894,600. The firm has a market cap of $621.87 million, a price-to-earnings ratio of 0.87 and a beta of 1.30. SITE Centers Corp. has a 12 month low of $10.46 and a 12 month 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. The firm has a 50 day moving average of $12.97 and a 200-day moving average of $14.81.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. Research analysts expect that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Piper Sandler decreased their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, StockNews.com downgraded SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $35.25.

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.