State of New Jersey Common Pension Fund D Decreases Holdings in SITE Centers Corp. (NYSE:SITC)

State of New Jersey Common Pension Fund D lessened its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 76.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,322 shares of the company's stock after selling 105,100 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of SITE Centers worth $1,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SITC. Allspring Global Investments Holdings LLC bought a new position in SITE Centers during the second quarter valued at $42,000. Quarry LP grew 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 acquiring an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of SITE Centers during the 1st quarter worth $147,000. Diversified Trust Co purchased a new stake in SITE Centers in the 2nd quarter worth about $152,000. Finally, Evergreen Capital Management LLC bought a new stake in SITE Centers in the 2nd quarter valued at about $167,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI upgraded shares of SITE Centers to a "hold" rating in a research note on Wednesday, July 31st. Piper Sandler lowered their target price on shares of SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Stifel Nicolaus increased their target price on SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. KeyCorp reiterated a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Finally, Morgan Stanley increased their price objective on SITE Centers from $56.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, September 30th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.89.

SITE Centers Price Performance

Shares of SITC traded up $0.08 during trading hours on Monday, reaching $15.70. 667,029 shares of the company's stock traded hands, compared to its average volume of 680,072. SITE Centers Corp. has a 12 month low of $15.43 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 stock has a market cap of $823.15 million, a PE ratio of 1.14 and a beta of 1.62. The firm's 50 day simple moving average is $30.23 and its 200-day simple moving average is $144.35.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $5.20. The business 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share. Equities analysts expect that SITE Centers Corp. will post 2.9 EPS for the current year.

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.