Vestcor Inc lifted its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 2,850.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,231 shares of the company's stock after acquiring an additional 44,664 shares during the quarter. Vestcor Inc owned approximately 0.09% of SITE Centers worth $707,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in SITC. KBC Group NV lifted its holdings in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Van ECK Associates Corp lifted its holdings in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after purchasing an additional 833 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in SITE Centers in the 4th quarter worth approximately $163,000. Neo Ivy Capital Management purchased a new position in SITE Centers in the 3rd quarter worth approximately $202,000. Finally, Systematic Financial Management LP purchased a new position in SITE Centers in the 3rd quarter worth approximately $203,000. 88.70% of the stock is currently owned by institutional investors.
Insider Buying and Selling at SITE Centers
In other news, EVP John M. Cattonar sold 8,794 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.10% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on SITC. Wells Fargo & Company decreased their price objective on SITE Centers from $17.50 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Piper Sandler decreased their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Citigroup decreased their price target on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. Finally, StockNews.com lowered SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, SITE Centers has an average rating of "Hold" and an average price target of $35.61.
Check Out Our Latest Research Report on SITC
SITE Centers Stock Down 0.4 %
Shares of NYSE SITC traded down $0.05 during mid-day trading on Thursday, reaching $12.80. 687,326 shares of the company were exchanged, compared to its average volume of 753,982. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $671.10 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. SITE Centers Corp. has a 1 year low of $12.58 and a 1 year high of $64.44. The firm has a 50-day moving average of $14.43 and a 200 day moving average of $21.76.
SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $32.87 million during the quarter, compared to analysts' expectations of $43.58 million. On average, research analysts expect that SITE Centers Corp. will post 3.24 earnings per share for the current year.
SITE Centers Company Profile
(
Free Report)
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.
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