4,032 Shares in SITE Centers Corp. (NYSE:SITC) Bought by Quantinno Capital Management LP

Quantinno Capital Management LP purchased a new stake in SITE Centers Corp. (NYSE:SITC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,032 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of SITE Centers by 3,017.5% in the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after acquiring an additional 739,174 shares during the last quarter. APG Asset Management US Inc. raised its stake in shares of SITE Centers by 145.0% during the 2nd quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after purchasing an additional 535,550 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of SITE Centers in the 2nd quarter valued at approximately $3,089,000. Algert Global LLC grew its stake in shares of SITE Centers by 65.0% in the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after buying an additional 162,260 shares in the last quarter. Finally, Peregrine Capital Management LLC increased its holdings 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 buying an additional 57,281 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Performance

NYSE:SITC opened at $15.49 on Tuesday. The stock has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $113.35. The stock has a market cap of $811.88 million, a P/E ratio of 1.13 and a beta of 1.61. SITE Centers Corp. has a 1-year low of $15.24 and a 1-year high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC) last posted 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. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same quarter last year, the firm earned $1.32 earnings per share. The company’s revenue was down 37.5% on a year-over-year basis. Research analysts anticipate that SITE Centers Corp. will post 3.36 earnings per share for the current year.

Insider Buying and Selling at SITE Centers

In related news, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SITC. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Compass Point lowered their price target on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. 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 research report on Monday, November 4th. Truist Financial boosted their target price on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley raised their price target on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.04.

About SITE Centers

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.