SITE Centers Corp. (NYSE:SITC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 74.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,192,527 shares of the company's stock after selling 3,454,507 shares during the quarter. Geode Capital Management LLC owned 2.27% of SITE Centers worth $14,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SITC. Arizona State Retirement System increased its holdings in SITE Centers by 1.9% in the second quarter. Arizona State Retirement System now owns 52,749 shares of the company's stock valued at $765,000 after buying an additional 976 shares in the last quarter. Vestcor Inc purchased a new position in SITE Centers in the 3rd quarter valued at approximately $95,000. Van ECK Associates Corp raised its holdings in SITE Centers by 6.3% during the second quarter. Van ECK Associates Corp now owns 29,065 shares of the company's stock worth $421,000 after purchasing an additional 1,723 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in SITE Centers by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company's stock worth $1,510,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Quarry LP boosted its position in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company's stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Piper Sandler cut their target price on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lowered shares of SITE Centers from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. StockNews.com began coverage on SITE Centers in a research report on Wednesday, December 4th. They set a "hold" rating for the company. Finally, KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.04.

Insider Buying and Selling

In related news, CEO David R. Lukes sold 168,895 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the sale, the chief executive officer now owns 136,008 shares of the company's stock, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John M. Cattonar sold 8,794 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,457 shares of company stock valued at $2,791,693. Insiders own 10.10% of the company's stock.

SITE Centers Trading Up 2.1 %

SITC traded up $0.32 during trading on Tuesday, hitting $15.29. The company's stock had a trading volume of 784,746 shares, compared to its average volume of 768,805. SITE Centers Corp. has a twelve month low of $14.74 and a twelve month high of $64.44. The stock has a market cap of $801.65 million, a PE ratio of 1.12 and a beta of 1.61. The firm's 50 day moving average price is $15.80 and its 200-day moving average price is $96.48. 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 released its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million during 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%. The business's quarterly revenue was down 37.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, analysts expect that SITE Centers Corp. will post 3.36 earnings per share 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.