Geode Capital Management LLC Grows Stake in SITE Centers Corp. (NYSE:SITC)

Geode Capital Management LLC lifted its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,412,163 shares of the company's stock after purchasing an additional 219,636 shares during the quarter. Geode Capital Management LLC owned about 2.69% of SITE Centers worth $21,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Graham Capital Wealth Management LLC purchased a new stake in shares of SITE Centers in the fourth quarter worth about $2,226,000. Advisors Preferred LLC acquired a new stake in shares of SITE Centers during the 4th quarter worth approximately $2,517,000. Amundi increased its holdings in shares of SITE Centers by 44.8% during the 4th quarter. Amundi now owns 49,206 shares of the company's stock valued at $736,000 after purchasing an additional 15,227 shares in the last quarter. Assetmark Inc. lifted its stake in shares of SITE Centers by 287.1% in the 4th 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 purchased a new stake in SITE Centers during the fourth quarter worth $1,682,000. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Trading Up 0.3 %

SITE Centers stock traded up $0.03 during trading on Thursday, reaching $11.83. 46,516 shares of the company were exchanged, compared to its average volume of 894,516. 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 stock's 50 day simple moving average is $12.78 and its two-hundred day simple moving average is $14.71. The company has a market capitalization of $620.25 million, a P/E ratio of 0.86 and a beta of 1.30. SITE Centers Corp. has a 52-week low of $10.46 and a 52-week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). The firm had revenue of $32.87 million for 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, equities research analysts expect that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com downgraded shares of SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler cut their price objective on 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, Wells Fargo & Company decreased their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $35.25.

SITE Centers 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.