Vanguard Group Inc. Increases Stake in SITE Centers Corp. (NYSE:SITC)

Vanguard Group Inc. raised its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,296,037 shares of the company's stock after acquiring an additional 675,190 shares during the quarter. Vanguard Group Inc. owned approximately 13.92% of SITE Centers worth $111,556,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Graham Capital Wealth Management LLC bought a new position in shares of SITE Centers during the fourth quarter valued at $2,226,000. Advisors Preferred LLC purchased a new position in shares of SITE Centers in the 4th quarter worth approximately $2,517,000. Amundi raised its position in SITE Centers by 44.8% in the 4th quarter. Amundi now owns 49,206 shares of the company's stock worth $736,000 after purchasing an additional 15,227 shares during the period. Assetmark Inc. boosted its holdings in SITE Centers by 287.1% during the 4th quarter. Assetmark Inc. now owns 89,705 shares of the company's stock valued at $1,372,000 after acquiring an additional 66,529 shares during the period. Finally, Factorial Partners LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $1,682,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

SITE Centers Stock Down 0.5 %

SITE Centers stock traded down $0.06 during trading hours on Friday, reaching $11.33. The stock had a trading volume of 866,445 shares, compared to its average volume of 890,517. The company has a market cap of $594.24 million, a price-to-earnings ratio of 0.83 and a beta of 1.30. The business's 50 day moving average price is $13.30 and its 200-day moving average price is $15.57. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

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SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $32.87 million for the quarter, compared to analysts' expectations of $43.58 million. Sell-side analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

SITC has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler dropped their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.