Victory Capital Management Inc. Sells 1,402,863 Shares of SITE Centers Corp. (NYSE:SITC)

Victory Capital Management Inc. lessened its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 74.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 476,454 shares of the company's stock after selling 1,402,863 shares during the quarter. Victory Capital Management Inc. owned approximately 0.91% of SITE Centers worth $28,825,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SITC. GSA Capital Partners LLP acquired a new stake in shares of SITE Centers during the 3rd quarter worth approximately $617,000. Los Angeles Capital Management LLC bought a new position in shares of SITE Centers during the third quarter worth about $355,000. Blue Trust Inc. increased its holdings in shares of SITE Centers by 508.3% in the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company's stock worth $386,000 after acquiring an additional 5,332 shares during the period. AlphaMark Advisors LLC acquired a new position in SITE Centers during the 3rd quarter valued at about $319,000. Finally, SG Americas Securities LLC grew its position in SITE Centers by 115.1% in the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company's stock worth $987,000 after purchasing an additional 8,731 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

SITE Centers Stock Up 0.5 %

Shares of SITC traded up $0.08 during midday trading on Monday, reaching $15.70. 667,029 shares of the stock were exchanged, compared to its average volume of 680,072. The company has a market cap of $823.15 million, a price-to-earnings ratio of 1.15 and a beta of 1.62. 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 12-month low of $15.43 and a 12-month high of $64.44. The firm has a 50 day simple moving average of $29.41 and a 200-day simple moving average of $142.90.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million for the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's quarterly revenue was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 EPS. Research analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SITC shares. Piper Sandler reduced their price objective on SITE Centers from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. KeyCorp reiterated a "sector weight" rating on shares of SITE Centers in a research report on Monday, October 7th. Truist Financial increased their price objective on shares of SITE Centers from $56.00 to $58.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Compass Point decreased their price target on SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research note on Tuesday, October 15th. Finally, Evercore ISI raised SITE Centers to a "hold" rating in a research note on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.89.

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.