New Age Alpha Advisors LLC Purchases New Position in SITE Centers Corp. (NYSE:SITC)

New Age Alpha Advisors LLC purchased a new stake in SITE Centers Corp. (NYSE:SITC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 235,041 shares of the company’s stock, valued at approximately $3,594,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SITC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SITE Centers by 19.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock worth $19,612,000 after purchasing an additional 53,412 shares in the last quarter. Quantinno Capital Management LP acquired a new position in SITE Centers during the third quarter worth approximately $244,000. Systematic Financial Management LP acquired a new position in SITE Centers during the third quarter worth approximately $203,000. Soros Fund Management LLC purchased a new stake in SITE Centers in the third quarter valued at approximately $3,025,000. Finally, Jane Street Group LLC boosted its holdings in shares of SITE Centers by 3.3% in the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after acquiring an additional 5,779 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SITC. Citigroup cut their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. 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 report on Friday, February 28th. StockNews.com downgraded shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their price target on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.25.

SITE Centers Trading Down 1.1 %

Shares of SITC stock opened at $12.64 on Friday. The business’s fifty day moving average price is $14.12 and its 200 day moving average price is $19.82. The firm has a market capitalization of $662.45 million, a PE ratio of 0.92 and a beta of 1.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a 1-year low of $12.58 and a 1-year high of $64.44.

SITE Centers (NYSE:SITC) last announced its quarterly 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 analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. As a group, sell-side analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

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.