Janus Henderson Group PLC Trims Stock Position in SITE Centers Corp. (NYSE:SITC)

Janus Henderson Group PLC trimmed its position in shares of SITE Centers Corp. (NYSE:SITC) by 75.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,177 shares of the company’s stock after selling 63,533 shares during the period. Janus Henderson Group PLC’s holdings in SITE Centers were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SITC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SITE Centers by 19.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after purchasing an additional 53,412 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of SITE Centers in the 3rd quarter valued at approximately $319,000. Meeder Asset Management Inc. purchased a new position in shares of SITE Centers in the third quarter worth about $2,596,000. Quest Partners LLC lifted its stake in SITE Centers by 1,046.5% during the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock valued at $1,839,000 after acquiring an additional 27,743 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in SITE Centers during the third quarter worth about $617,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating on the stock. KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Citigroup reduced their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Stifel Nicolaus raised their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Morgan Stanley raised their target price on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SITE Centers currently has an average rating of “Hold” and a consensus target price of $36.04.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $15.61 on Friday. The company has a 50-day moving average price of $16.24 and a 200 day moving average price of $116.37. The company has a market cap of $818.17 million, a P/E ratio of 1.14 and a beta of 1.61. 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 52 week low of $15.24 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly 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. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $89.43 million for the quarter, compared to analysts’ expectations of $104.55 million. During the same period in the prior year, the company posted $1.32 EPS. The business’s revenue for the quarter was down 37.5% on a year-over-year basis. Research analysts predict that SITE Centers Corp. will post 3.36 earnings per share for the current year.

Insider Activity

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.