UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 53,412 Shares of SITE Centers Corp. (NYSE:SITC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 19.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,157 shares of the company's stock after buying an additional 53,412 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of SITE Centers worth $19,612,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of SITE Centers during the 2nd quarter worth approximately $42,000. Quarry LP raised its holdings 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 buying an additional 2,857 shares in the last quarter. Diversified Trust Co acquired a new stake in SITE Centers in the second quarter valued at about $152,000. Evergreen Capital Management LLC bought a new position in SITE Centers in the second quarter valued at about $167,000. Finally, Vanderbilt University raised its stake in SITE Centers by 10.0% during the second quarter. Vanderbilt University now owns 12,378 shares of the company's stock worth $179,000 after acquiring an additional 1,126 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Down 0.4 %

SITC traded down $0.06 during midday trading on Friday, hitting $15.33. The company had a trading volume of 781,989 shares, compared to its average volume of 696,829. The stock's 50 day moving average price is $18.15 and its 200 day moving average price is $125.18. SITE Centers Corp. has a 52 week low of $15.26 and a 52 week high of $64.44. The company has a market capitalization of $803.49 million, a price-to-earnings ratio of 1.12 and a beta of 1.61. 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 (NYSE:SITC - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 34.20% and a net margin of 164.10%. The firm's revenue was down 37.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Wednesday, August 28th. StockNews.com initiated coverage on SITE Centers in a research report on Wednesday. They set a "hold" rating for the company. KeyCorp reiterated a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Stifel Nicolaus raised their price objective on SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Piper Sandler cut their price objective on SITE Centers from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $39.38.

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.