Teachers Retirement System of The State of Kentucky Cuts Position in SITE Centers Corp. (NYSE:SITC)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 75.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,508 shares of the company's stock after selling 43,526 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in SITE Centers were worth $877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SITC. Bank of Montreal Can grew its stake in shares of SITE Centers by 3,017.5% in the 2nd quarter. Bank of Montreal Can now owns 763,670 shares of the company's stock worth $11,081,000 after acquiring an additional 739,174 shares in the last quarter. APG Asset Management US Inc. boosted its holdings in SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company's stock worth $12,996,000 after purchasing an additional 535,550 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in SITE Centers in the 2nd quarter worth about $3,089,000. Algert Global LLC increased its stake in SITE Centers by 65.0% in the 2nd quarter. Algert Global LLC now owns 411,910 shares of the company's stock valued at $5,973,000 after buying an additional 162,260 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its position in shares of SITE Centers by 13.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company's stock worth $7,090,000 after buying an additional 57,281 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SITC has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on SITE Centers from $65.00 to $65.25 and gave the company a "buy" rating in a report on Thursday, September 19th. Citigroup reduced their price objective on SITE Centers from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. KeyCorp reaffirmed a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Morgan Stanley boosted 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, Compass Point decreased their price objective on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, SITE Centers presently has an average rating of "Hold" and a consensus price target of $36.04.

SITE Centers Stock Performance

Shares of SITC stock traded down $0.26 on Thursday, hitting $15.01. 1,763,480 shares of the stock were exchanged, compared to its average volume of 737,645. SITE Centers Corp. has a one year low of $15.00 and a one year high of $64.44. The firm's 50 day moving average is $16.11 and its two-hundred day moving average is $111.16. The firm has a market capitalization of $786.97 million, a PE ratio of 1.10 and a beta of 1.61. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) last issued its 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 firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. During the same quarter last year, the business earned $1.32 earnings per share. The company's quarterly revenue was down 37.5% on a year-over-year basis. Sell-side analysts expect that SITE Centers Corp. will post 3.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Dawn M. Sweeney sold 3,768 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David R. Lukes sold 168,895 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 136,008 shares of the company's stock, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.10% of the stock is owned by insiders.

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.