Covestor Ltd Acquires 3,112 Shares of SITE Centers Corp. (NYSE:SITC)

Covestor Ltd increased its holdings in SITE Centers Corp. (NYSE:SITC) by 483.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,756 shares of the company’s stock after purchasing an additional 3,112 shares during the period. Covestor Ltd’s holdings in SITE Centers were worth $57,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SITC. KBC Group NV grew its holdings 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 worth $53,000 after acquiring an additional 2,193 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of SITE Centers during the 3rd quarter valued at about $244,000. Van ECK Associates Corp lifted its stake in shares of 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 during the period. KLP Kapitalforvaltning AS purchased a new position in shares of SITE Centers in the fourth quarter worth approximately $148,000. Finally, World Investment Advisors LLC bought a new stake in SITE Centers during the third quarter valued at approximately $622,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company cut their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Piper Sandler decreased their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $35.25.

SITE Centers Stock Up 1.4 %

Shares of SITC stock opened at $11.52 on Tuesday. The company’s fifty day simple moving average is $13.23 and its two-hundred day simple moving average is $15.23. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44. The stock has a market cap of $603.99 million, a P/E ratio of 0.84 and a beta of 1.30. 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 (NYSE:SITC) last posted its 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 return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $43.58 million. Analysts predict 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.