Victory Capital Management Inc. Has $768,000 Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Victory Capital Management Inc. reduced its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 89.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,203 shares of the company's stock after selling 426,251 shares during the period. Victory Capital Management Inc. owned 0.10% of SITE Centers worth $768,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV raised its position in shares of SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after purchasing an additional 2,193 shares during the period. Vestcor Inc bought a new stake in SITE Centers during the third quarter valued at about $95,000. Van ECK Associates Corp increased its stake in shares of SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after purchasing an additional 833 shares during the period. Baader Bank Aktiengesellschaft bought a new position in shares of SITE Centers in the fourth quarter worth about $163,000. Finally, Neo Ivy Capital Management bought a new stake in SITE Centers during the 3rd quarter valued at approximately $202,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

SITE Centers Price Performance

NYSE SITC traded down $0.12 on Tuesday, reaching $13.03. The company's stock had a trading volume of 692,992 shares, compared to its average volume of 771,004. SITE Centers Corp. has a 52 week low of $12.58 and a 52 week high of $64.44. 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 cap of $683.16 million, a PE ratio of 0.95 and a beta of 1.63. The business has a 50-day moving average price of $14.32 and a 200 day moving average price of $20.54.

Remove Ads

SITE Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.07). The company had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Sell-side analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SITC. StockNews.com downgraded SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wells Fargo & Company cut their target price on shares of SITE Centers from $17.50 to $17.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. Citigroup decreased their price target on shares of SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Finally, Piper Sandler reduced their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SITE Centers presently has a consensus rating of "Hold" and a consensus price target of $35.61.

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.