New Age Alpha Advisors LLC Invests $3.59 Million in SITE Centers Corp. (NYSE:SITC)

New Age Alpha Advisors LLC purchased a new stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 235,041 shares of the company's stock, valued at approximately $3,594,000. New Age Alpha Advisors LLC owned 0.45% of SITE Centers as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SITC. Illinois Municipal Retirement Fund increased its stake in SITE Centers by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock valued at $385,000 after acquiring an additional 730 shares during the period. Van ECK Associates Corp grew its stake in shares of SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after purchasing an additional 833 shares during the period. Vestcor Inc acquired a new position in shares of SITE Centers in the 3rd quarter worth approximately $95,000. KBC Group NV lifted its position in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after buying an additional 2,193 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in SITE Centers in the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Trading Up 0.9 %

SITC stock traded up $0.12 during trading on Wednesday, hitting $12.84. The company had a trading volume of 125,597 shares, compared to its average volume of 922,035. The firm has a 50-day moving average price of $14.02 and a 200-day moving average price of $18.63. SITE Centers Corp. has a 12 month low of $12.47 and a 12 month high of $32.22. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $672.94 million, a price-to-earnings ratio of 0.94 and a beta of 1.63.

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SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. As a group, analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company dropped their price objective 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, Citigroup reduced their target price on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. 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, SITE Centers presently has an average rating of "Hold" and a consensus 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.