Soros Fund Management LLC Buys Shares of 50,000 SITE Centers Corp. (NYSE:SITC)

Soros Fund Management LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,000 shares of the company's stock, valued at approximately $3,025,000. Soros Fund Management LLC owned 0.10% of SITE Centers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SITC. Allspring Global Investments Holdings LLC acquired a new stake in SITE Centers in the 2nd quarter worth approximately $42,000. Quarry LP increased its stake in shares of SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company's stock worth $50,000 after acquiring an additional 2,857 shares during the period. Diversified Trust Co purchased a new stake in SITE Centers in the second quarter valued at $152,000. Evergreen Capital Management LLC purchased a new stake in shares of SITE Centers in the second quarter worth about $167,000. Finally, Vanderbilt University raised its position in SITE Centers by 10.0% during the second quarter. Vanderbilt University now owns 12,378 shares of the company's stock valued at $179,000 after acquiring an additional 1,126 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley increased 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. Truist Financial boosted their price objective on SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Wednesday, August 28th. Wells Fargo & Company lowered shares of SITE Centers from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. StockNews.com initiated coverage on shares of SITE Centers in a research report on Wednesday. They issued a "hold" rating for the company. Finally, KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $39.38.

SITE Centers Trading Down 0.5 %

Shares of SITE Centers stock traded down $0.07 during trading hours on Friday, reaching $15.31. 111,902 shares of the company's stock were exchanged, compared to its average volume of 695,228. 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 firm has a market capitalization of $802.70 million, a price-to-earnings ratio of 1.12 and a beta of 1.61. The company has a fifty day moving average of $18.15 and a 200-day moving average of $125.18. SITE Centers Corp. has a 52-week low of $15.26 and a 52-week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $5.20. The firm had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm's revenue was down 37.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 EPS. Sell-side analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

About SITE Centers

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.