2,243,077 Shares in SITE Centers Corp. (NYSE:SITC) Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,243,077 shares of the company's stock, valued at approximately $34,297,000. Pacer Advisors Inc. owned 4.28% of SITE Centers as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP lifted its position in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after purchasing an additional 2,857 shares in the last quarter. 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 valued at $53,000 after buying an additional 2,193 shares in the last quarter. Vestcor Inc bought a new position in shares of SITE Centers during the 3rd quarter valued at approximately $95,000. Neo Ivy Capital Management purchased a new stake in SITE Centers in the 3rd quarter worth approximately $202,000. Finally, Systematic Financial Management LP bought a new stake in SITE Centers during the 3rd quarter worth approximately $203,000. 88.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SITC. StockNews.com initiated coverage on shares of SITE Centers in a research note on Wednesday, December 4th. They set a "hold" rating on the stock. Citigroup dropped their price objective on SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. Wells Fargo & Company lowered their price target on SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Compass Point cut their price objective on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SITE Centers presently has a consensus rating of "Hold" and an average price target of $35.75.

SITE Centers Trading Down 1.5 %

NYSE:SITC traded down $0.24 during mid-day trading on Friday, hitting $14.99. 589,467 shares of the stock traded hands, compared to its average volume of 750,766. 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 firm's 50 day moving average is $15.33 and its two-hundred day moving average is $65.28. SITE Centers Corp. has a 52 week low of $14.55 and a 52 week high of $32.22. The stock has a market capitalization of $786.14 million, a price-to-earnings ratio of 1.10 and a beta of 1.61.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to analysts' expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm's quarterly revenue was down 37.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 EPS. On average, equities research analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current year.

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 stock was sold at an average price of $15.39, for a total value 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 trade represents a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock worth $2,791,693 in the last 90 days. 10.10% of the stock is owned by corporate insiders.

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.