Public Employees Retirement System of Ohio Has $4.12 Million Stake in SITE Centers Corp. (NYSE:SITC)

Public Employees Retirement System of Ohio cut its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 73.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,037 shares of the company's stock after selling 190,302 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.13% of SITE Centers worth $4,116,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SITC. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers in the 2nd quarter valued at approximately $42,000. Quarry LP boosted its holdings in shares of SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after buying an additional 2,857 shares during the period. Diversified Trust Co bought a new stake in shares of SITE Centers during the 2nd quarter valued at about $152,000. Evergreen Capital Management LLC acquired a new stake in SITE Centers during the second quarter worth about $167,000. Finally, Systematic Financial Management LP bought a new position in SITE Centers in the third quarter worth about $203,000. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Up 0.2 %

Shares of SITC traded up $0.03 during midday trading on Friday, reaching $15.61. 1,919,335 shares of the stock were exchanged, compared to its average volume of 709,416. The company has a market cap of $818.43 million, a price-to-earnings ratio of 1.14 and a beta of 1.61. The firm has a 50 day simple moving average of $16.24 and a 200-day simple moving average of $114.84. SITE Centers Corp. has a 12-month low of $15.24 and a 12-month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) 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 firm had revenue of $89.43 million during the quarter, compared to analysts' expectations of $104.55 million. During the same period in the previous year, the company earned $1.32 earnings per share. The company's revenue was down 37.5% compared to the same quarter last year. Research analysts forecast that SITE Centers Corp. will post 3.36 EPS for the current year.

Analyst Ratings Changes

SITC has been the topic of a number of recent research reports. Citigroup cut their target price on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Stifel Nicolaus increased their price target on SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a research note on Thursday, September 19th. Morgan Stanley raised their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, September 30th. Wells Fargo & Company cut SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Finally, Compass Point cut their price objective on SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $36.04.

Insider Buying and Selling

In other SITE Centers 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 transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.10% of the stock is currently 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.