MetLife Investment Management LLC cut its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 75.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,827 shares of the company's stock after selling 86,262 shares during the quarter. MetLife Investment Management LLC owned 0.05% of SITE Centers worth $1,744,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of SITE Centers by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company's stock valued at $39,426,000 after buying an additional 31,529 shares in the last quarter. APG Asset Management US Inc. raised its position in SITE Centers by 145.0% in the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company's stock worth $12,996,000 after purchasing an additional 535,550 shares in the last quarter. Renaissance Technologies LLC lifted its stake in SITE Centers by 6.8% during the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company's stock worth $12,794,000 after purchasing an additional 56,013 shares during the period. Bank of Montreal Can boosted its holdings in SITE Centers by 3,017.5% during the second quarter. Bank of Montreal Can now owns 763,670 shares of the company's stock valued at $11,081,000 after purchasing an additional 739,174 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its stake in shares of SITE Centers by 13.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company's stock valued at $7,090,000 after purchasing an additional 57,281 shares during the period. 88.70% of the stock is currently owned by institutional investors.
SITE Centers Price Performance
SITC traded down $0.06 during midday trading on Friday, hitting $15.33. The company had a trading volume of 781,989 shares, compared to its average volume of 696,829. SITE Centers Corp. has a twelve month low of $15.26 and a twelve month high of $64.44. The company has a market capitalization of $803.49 million, a PE ratio of 1.12 and a beta of 1.61. 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's 50-day simple moving average is $18.15 and its 200-day simple moving average is $125.18.
SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. During the same quarter last year, the business posted $1.32 earnings per share. SITE Centers's revenue for the quarter was down 37.5% compared to the same quarter last year. Equities research analysts predict that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SITC. Wells Fargo & Company cut SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Truist Financial lifted their price objective on SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Piper Sandler reduced their target price on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Morgan Stanley increased 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 report on Monday, September 30th. Finally, StockNews.com initiated coverage on shares of SITE Centers in a research report on Wednesday. They issued a "hold" rating on the stock. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.38.
View Our Latest Research Report on SITE Centers
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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