Victory Capital Management Inc. Has $28.83 Million Position in SITE Centers Corp. (NYSE:SITC)

Victory Capital Management Inc. cut its position in SITE Centers Corp. (NYSE:SITC) by 74.6% in the 3rd quarter, Holdings Channel.com reports. 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.’s holdings in SITE Centers were worth $28,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of SITE Centers in the 3rd quarter valued at $355,000. Peregrine Capital Management LLC boosted its position in SITE Centers by 13.3% during the second quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company’s stock worth $7,090,000 after purchasing an additional 57,281 shares during the period. Louisiana State Employees Retirement System boosted its position in SITE Centers by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after purchasing an additional 1,500 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of SITE Centers in the second quarter valued at approximately $248,000. Finally, Nisa Investment Advisors LLC lifted its position in SITE Centers by 2.2% during the second quarter. Nisa Investment Advisors LLC now owns 87,671 shares of the company’s stock valued at $1,282,000 after purchasing an additional 1,894 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SITC shares. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $68.00 to $19.00 in a research note on Wednesday, October 2nd. StockNews.com raised SITE Centers from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd. Morgan Stanley upped their price target on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Finally, Compass Point lowered their target price on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.89.

SITE Centers Trading Down 0.9 %

SITC opened at $15.62 on Monday. The business’s 50 day moving average is $30.23 and its two-hundred day moving average is $144.35. SITE Centers Corp. has a 52 week low of $15.52 and a 52 week high of $64.44. The firm has a market cap of $818.96 million, a price-to-earnings ratio of 1.14 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 (NYSE:SITC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business’s revenue was down 37.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.32 earnings per share. On average, research analysts predict that SITE Centers Corp. will post 2.9 EPS for the current 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.