Legal & General Group Plc reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 334,880 shares of the company's stock after selling 32,092 shares during the period. Legal & General Group Plc owned about 0.64% of SITE Centers worth $5,120,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in SITC. Illinois Municipal Retirement Fund increased its position in shares of SITE Centers by 3.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock worth $385,000 after acquiring an additional 730 shares during the period. Van ECK Associates Corp raised its holdings in SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after acquiring an additional 833 shares in the last quarter. KBC Group NV raised its holdings in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after purchasing an additional 2,193 shares in the last quarter. Meeder Asset Management Inc. raised its stake in SITE Centers by 5.1% in the fourth quarter. Meeder Asset Management Inc. now owns 45,105 shares of the company's stock valued at $690,000 after buying an additional 2,199 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in SITE Centers by 2.2% during the 4th quarter. Rhumbline Advisers now owns 153,334 shares of the company's stock worth $2,344,000 after buying an additional 3,366 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, SITE Centers presently has an average rating of "Hold" and an average price target of $35.25.
Read Our Latest Stock Analysis on SITE Centers
SITE Centers Stock Performance
SITE Centers stock traded up $0.15 during mid-day trading on Thursday, reaching $11.95. 233,852 shares of the company were exchanged, compared to its average volume of 895,324. The firm's 50-day simple moving average is $12.78 and its two-hundred day simple moving average is $14.71. SITE Centers Corp. has a twelve month low of $10.46 and a twelve month high of $64.44. The firm has a market cap of $626.28 million, a PE ratio of 0.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.
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 business had revenue of $32.87 million during the quarter, compared to analysts' expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Equities analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.
About SITE Centers
(
Free Report)
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.
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