Public Sector Pension Investment Board Lowers Position in SITE Centers Corp. (NYSE:SITC)

Public Sector Pension Investment Board cut its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 74.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,016 shares of the company's stock after selling 296,450 shares during the quarter. Public Sector Pension Investment Board owned about 0.19% of SITE Centers worth $6,051,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SITC. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers during the first quarter valued at approximately $147,000. Price T Rowe Associates Inc. MD raised its stake in shares of SITE Centers by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 131,109 shares of the company's stock worth $1,921,000 after purchasing an additional 6,943 shares during the last quarter. Diversified Trust Co bought a new position in shares of SITE Centers during the second quarter valued at $152,000. Vanderbilt University boosted its position in shares of SITE Centers by 10.0% during the second quarter. Vanderbilt University now owns 12,378 shares of the company's stock valued at $179,000 after buying an additional 1,126 shares during the last quarter. Finally, TCW Group Inc. increased its holdings in SITE Centers by 91.6% in the 2nd quarter. TCW Group Inc. now owns 214,796 shares of the company's stock worth $3,115,000 after buying an additional 102,673 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

SITE Centers Stock Performance

NYSE:SITC traded down $0.11 during mid-day trading on Friday, hitting $15.52. 506,522 shares of the company traded hands, compared to its average volume of 1,047,260. The stock's fifty day moving average price is $21.66 and its 200-day moving average price is $130.41. 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 Corp. has a one year low of $15.43 and a one year high of $64.44. The firm has a market cap of $813.71 million, a price-to-earnings ratio of 1.14 and a beta of 1.62.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period in the previous year, the company posted $1.32 EPS. The firm's revenue was down 37.5% on a year-over-year basis. Research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SITC. Morgan Stanley upped their target price on shares of SITE Centers from $56.00 to $57.00 and gave the company an "equal weight" rating in a research note on Monday, September 30th. Piper Sandler lowered their price objective on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, November 4th. KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Wells Fargo & Company lowered shares of SITE Centers from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Finally, StockNews.com started coverage on SITE Centers in a research note on Tuesday, November 26th. They issued a "buy" rating on the stock. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.89.

SITE Centers Company 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.