abrdn plc reduced its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 95.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,414 shares of the company's stock after selling 268,428 shares during the period. abrdn plc's holdings in SITE Centers were worth $186,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Graham Capital Wealth Management LLC bought a new position in SITE Centers in the fourth quarter worth about $2,226,000. Meeder Asset Management Inc. bought a new position in shares of SITE Centers during the third quarter valued at approximately $2,596,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SITE Centers by 19.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company's stock valued at $19,612,000 after purchasing an additional 53,412 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of SITE Centers during the fourth quarter valued at approximately $606,000. Finally, Soros Fund Management LLC bought a new stake in shares of SITE Centers during the third quarter valued at approximately $3,025,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
SITE Centers Price Performance
Shares of SITC stock traded down $0.44 on Friday, hitting $14.66. 503,130 shares of the stock traded hands, compared to its average volume of 689,334. The firm has a market cap of $768.83 million, a price-to-earnings ratio of 1.07 and a beta of 1.60. SITE Centers Corp. has a 52 week low of $14.55 and a 52 week high of $32.22. The firm has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $46.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on SITC shares. Citigroup reduced their price target on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. StockNews.com started coverage on shares of SITE Centers in a report on Wednesday, December 4th. They issued a "hold" rating on the stock. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler dropped their price target on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.75.
Read Our Latest Report on SITC
Insider Activity
In other news, CEO David R. Lukes sold 168,895 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the sale, the chief executive officer now directly owns 136,008 shares in the company, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now owns 29,082 shares in the company, valued at $451,934.28. The trade was a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,457 shares of company stock worth $2,791,693 in the last three months. Company insiders own 10.10% of the company's stock.
SITE Centers Profile
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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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