SITE Centers Corp. (NYSE:SITC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 75.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,025 shares of the company's stock after selling 112,573 shares during the quarter. Thrivent Financial for Lutherans owned about 0.07% of SITE Centers worth $2,240,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers in the 2nd quarter worth about $42,000. Quarry LP lifted its stake in 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 purchasing an additional 2,857 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of SITE Centers during the first quarter valued at approximately $147,000. Diversified Trust Co bought a new position in shares of SITE Centers during the second quarter valued at approximately $152,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of SITE Centers in the second quarter worth approximately $167,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

SITE Centers Stock Down 1.3 %

Shares of NYSE SITC traded down $0.20 during midday trading on Thursday, reaching $15.63. 846,396 shares of the company's stock traded hands, compared to its average volume of 693,678. The company has a market cap of $819.48 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The stock's 50 day simple moving average is $23.40 and its 200-day simple moving average is $133.31. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a one year low of $15.43 and a one year high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last posted 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 return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. SITE Centers's revenue was down 37.5% on a year-over-year basis. On average, analysts predict that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SITC shares. Truist Financial boosted their price objective on SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Morgan Stanley upped 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. Evercore ISI upgraded shares of SITE Centers to a "hold" rating in a report on Wednesday, July 31st. KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Finally, Compass Point reduced their target price on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $58.89.

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.