Prudential Financial Inc. Sells 33,900 Shares of SITE Centers Corp. (NYSE:SITC)

Prudential Financial Inc. reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 41.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,775 shares of the company's stock after selling 33,900 shares during the period. Prudential Financial Inc. owned about 0.09% of SITE Centers worth $746,000 at the end of the most recent reporting period.

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

SITE Centers Price Performance

Shares of SITC stock traded down $0.06 during trading hours on Friday, hitting $11.33. The stock had a trading volume of 866,445 shares, compared to its average volume of 890,517. The stock's 50-day moving average price is $13.30 and its two-hundred day moving average price is $15.57. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The stock has a market capitalization of $594.24 million, a price-to-earnings ratio of 0.83 and a beta of 1.30. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $32.87 million for the quarter, compared to analysts' expectations of $43.58 million. Equities analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of analyst reports. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. StockNews.com downgraded SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.25.

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.