Swiss National Bank Decreases Stock Position in SITE Centers Corp. (NYSE:SITC)

Swiss National Bank reduced its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 75.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,100 shares of the company's stock after selling 279,100 shares during the period. Swiss National Bank owned approximately 0.18% of SITE Centers worth $5,572,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in SITE Centers during the third quarter worth $617,000. Los Angeles Capital Management LLC acquired a new position in shares of SITE Centers during the 3rd quarter worth $355,000. Van ECK Associates Corp boosted its position in shares of SITE Centers by 6.3% in the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company's stock worth $421,000 after buying an additional 1,723 shares in the last quarter. Custom Index Systems LLC acquired a new stake in SITE Centers in the 2nd quarter valued at about $242,000. Finally, Versor Investments LP purchased a new position in SITE Centers during the 2nd quarter valued at about $338,000. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Trading Down 1.3 %

SITC traded down $0.20 during midday trading on Thursday, hitting $15.63. The company's stock had a trading volume of 846,396 shares, compared to its average volume of 693,678. SITE Centers Corp. has a 52-week low of $15.43 and a 52-week high of $64.44. The firm has a 50-day moving average price of $23.40 and a two-hundred day moving average price of $133.31. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market cap of $819.48 million, a P/E ratio of 1.14 and a beta of 1.62.

SITE Centers (NYSE:SITC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $104.55 million. During the same period last year, the company earned $1.32 earnings per share. The company's quarterly revenue was down 37.5% on a year-over-year basis. On average, research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current year.

Analysts Set New Price Targets

SITC has been the subject of a number of recent research reports. Truist Financial raised their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Wednesday, August 28th. Wells Fargo & Company cut SITE Centers from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. Compass Point decreased their price objective on SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a research note on Thursday, September 19th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research note on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $58.89.

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.