Janus Henderson Group PLC trimmed its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 75.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,177 shares of the company's stock after selling 63,533 shares during the period. Janus Henderson Group PLC's holdings in SITE Centers were worth $1,281,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in SITE Centers during the 2nd quarter valued at about $42,000. Quarry LP increased its stake in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. Diversified Trust Co acquired a new position in shares of SITE Centers during the 2nd quarter worth approximately $152,000. Evergreen Capital Management LLC purchased a new stake in SITE Centers in the 2nd quarter valued at approximately $167,000. Finally, Custom Index Systems LLC acquired a new stake in SITE Centers during the 2nd quarter valued at $242,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
SITE Centers Trading Up 0.2 %
Shares of SITC stock traded up $0.03 during trading hours on Friday, hitting $15.61. 1,919,335 shares of the company were exchanged, compared to its average volume of 709,416. The firm has a fifty day moving average of $16.24 and a 200 day moving average of $115.60. 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 1 year low of $15.24 and a 1 year high of $64.44. The firm has a market cap of $818.43 million, a PE ratio of 1.14 and a beta of 1.61.
SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. During the same quarter last year, the firm posted $1.32 earnings per share. SITE Centers's revenue was down 37.5% on a year-over-year basis. Analysts expect that SITE Centers Corp. will post 3.36 earnings per share for the current year.
Insider Activity at SITE Centers
In other news, CEO David R. Lukes sold 168,895 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the sale, the chief executive officer now owns 136,008 shares of the company's stock, valued at $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.10% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SITC. Compass Point cut their price target on SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. StockNews.com started coverage on shares of SITE Centers in a research note on Wednesday, December 4th. They issued a "hold" rating for the company. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Finally, Stifel Nicolaus upped their price objective 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. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SITE Centers presently has a consensus rating of "Hold" and an average price target of $36.04.
Get Our Latest Analysis on SITC
About SITE Centers
(
Free Report)
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.
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