Virtu Financial LLC Acquires New Holdings in SITE Centers Corp. (NYSE:SITC)

Virtu Financial LLC purchased a new position in SITE Centers Corp. (NYSE:SITC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,657 shares of the company's stock, valued at approximately $2,399,000. Virtu Financial LLC owned approximately 0.08% of SITE Centers as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers in the 2nd quarter valued at $42,000. Quarry LP lifted its holdings in SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company's stock valued at $50,000 after purchasing an additional 2,857 shares during the last quarter. Vestcor Inc acquired a new position in SITE Centers in the third quarter valued at about $95,000. Diversified Trust Co bought a new stake in SITE Centers during the second quarter worth about $152,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of SITE Centers during the second quarter worth approximately $167,000. Institutional investors own 88.70% of the company's stock.

SITE Centers Trading Up 0.2 %

SITC stock traded up $0.03 during midday trading on Friday, reaching $15.61. The stock had a trading volume of 1,919,333 shares, compared to its average volume of 709,416. 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 twelve month low of $15.24 and a twelve month high of $64.44. The firm has a market cap of $818.17 million, a price-to-earnings ratio of 1.14 and a beta of 1.61. The business has a fifty day simple moving average of $16.24 and a two-hundred day simple moving average of $116.37.

SITE Centers (NYSE:SITC - Get Free Report) last issued 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. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $89.43 million during the quarter, compared to analysts' expectations of $104.55 million. During the same quarter in the previous year, the company earned $1.32 EPS. SITE Centers's revenue was down 37.5% on a year-over-year basis. As a group, research analysts expect that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SITC has been the topic of several recent analyst reports. KeyCorp reissued a "sector weight" rating on shares of SITE Centers in a report on Monday, October 7th. Citigroup reduced their price objective on SITE Centers from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday. StockNews.com started coverage on SITE Centers in a research note on Wednesday, December 4th. They issued a "hold" rating for the company. Stifel Nicolaus upped their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Compass Point lowered their price objective on shares of SITE Centers from $64.00 to $17.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.04.

Insider Buying and Selling at SITE Centers

In related news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares of the company's stock, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.10% of the company's stock.

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.