Zurcher Kantonalbank Zurich Cantonalbank Has $1.29 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 74.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,382 shares of the company's stock after selling 61,166 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in SITE Centers were worth $1,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Landscape Capital Management L.L.C. bought a new stake in shares of SITE Centers during the third quarter worth about $319,000. Meeder Asset Management Inc. acquired a new stake in SITE Centers during the 3rd quarter worth approximately $2,596,000. Quest Partners LLC grew its holdings in SITE Centers by 1,046.5% during the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company's stock worth $1,839,000 after acquiring an additional 27,743 shares during the last quarter. GSA Capital Partners LLP acquired a new position in SITE Centers in the 3rd quarter valued at approximately $617,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of SITE Centers during the third quarter valued at $355,000. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SITC. Truist Financial boosted 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. StockNews.com began coverage on SITE Centers in a research note on Wednesday. They issued a "hold" rating for the company. Piper Sandler lowered their price objective on SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. Morgan Stanley upped their target price on SITE Centers from $56.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Finally, Stifel Nicolaus raised their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $39.38.

SITE Centers Trading Down 0.4 %

SITC stock traded down $0.06 during mid-day trading on Friday, reaching $15.33. The company's stock had a trading volume of 781,989 shares, compared to its average volume of 696,829. SITE Centers Corp. has a 12 month low of $15.26 and a 12 month high of $64.44. 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 business's 50 day moving average price is $18.15 and its 200 day moving average price is $125.18. The company has a market cap of $803.49 million, a price-to-earnings ratio of 1.12 and a beta of 1.61.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's revenue for the quarter was down 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. On average, equities research analysts predict that SITE Centers Corp. will post 2.9 EPS for the current year.

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.