Citigroup Inc. Has $4.29 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Citigroup Inc. decreased its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 64.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,940 shares of the company’s stock after selling 128,121 shares during the quarter. Citigroup Inc.’s holdings in SITE Centers were worth $4,292,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SITC. Allspring Global Investments Holdings LLC acquired a new position in SITE Centers in the 2nd quarter valued at $42,000. Quarry LP raised its stake in shares of SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares in the last quarter. Diversified Trust Co bought a new stake in SITE Centers in the 2nd quarter valued at $152,000. Evergreen Capital Management LLC bought a new position in shares of SITE Centers during the 2nd quarter worth about $167,000. Finally, Vanderbilt University boosted its position in shares of SITE Centers by 10.0% during the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock valued at $179,000 after acquiring an additional 1,126 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. Piper Sandler cut their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. KeyCorp reaffirmed a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Finally, StockNews.com assumed coverage on shares of SITE Centers in a research note on Wednesday. They set a “hold” rating on the stock. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, SITE Centers currently has an average rating of “Hold” and a consensus target price of $39.38.

SITE Centers Trading Down 0.7 %

Shares of SITC opened at $15.59 on Wednesday. The stock has a fifty day moving average price of $20.78 and a two-hundred day moving average price of $128.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers Corp. has a 52-week low of $15.43 and a 52-week high of $64.44. The company has a market cap of $817.38 million, a price-to-earnings ratio of 1.14 and a beta of 1.61.

SITE Centers (NYSE:SITC) last released its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The company had revenue of $89.43 million during 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 firm’s quarterly revenue was down 37.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.32 earnings per share. Analysts predict that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

SITE Centers 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.