Sumitomo Mitsui Trust Group Inc. Decreases Stake in SITE Centers Corp. (NYSE:SITC)

Sumitomo Mitsui Trust Group Inc. lowered its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 73.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 51,581 shares of the company's stock after selling 144,242 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.10% of SITE Centers worth $3,121,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new position in shares of SITE Centers during the third quarter valued at about $617,000. Los Angeles Capital Management LLC purchased a new position in shares of SITE Centers during the third quarter worth $355,000. Blue Trust Inc. raised its holdings in shares of SITE Centers by 508.3% during the third quarter. Blue Trust Inc. now owns 6,381 shares of the company's stock worth $386,000 after purchasing an additional 5,332 shares during the last quarter. AlphaMark Advisors LLC purchased a new stake in SITE Centers in the third quarter valued at $319,000. Finally, SG Americas Securities LLC grew its position in SITE Centers by 115.1% during the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company's stock worth $987,000 after purchasing an additional 8,731 shares during the period. Institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Evercore ISI upgraded SITE Centers to a "hold" rating in a research note on Wednesday, July 31st. Piper Sandler dropped their price objective 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. Wells Fargo & Company cut shares of SITE Centers from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. StockNews.com initiated coverage on shares of SITE Centers in a research report on Monday. They set a "buy" rating on the stock. Finally, Stifel Nicolaus upped their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, SITE Centers presently has a consensus rating of "Hold" and a consensus target price of $58.89.

SITE Centers Trading Up 2.9 %

SITE Centers stock traded up $0.46 during mid-day trading on Tuesday, hitting $16.16. The company's stock had a trading volume of 641,283 shares, compared to its average volume of 682,321. The stock's fifty day moving average is $29.41 and its two-hundred day moving average is $142.90. 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 $847.27 million, a PE ratio of 1.15 and a beta of 1.62. SITE Centers Corp. has a 1 year low of $15.43 and a 1 year high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period last year, the company earned $1.32 EPS. The company's quarterly revenue was down 37.5% on a year-over-year basis. On average, analysts anticipate 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.