CWA Asset Management Group LLC Acquires New Position in SITE Centers Corp. (NYSE:SITC)

CWA Asset Management Group LLC bought a new position in SITE Centers Corp. (NYSE:SITC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,616 shares of the company’s stock, valued at approximately $606,000. CWA Asset Management Group LLC owned approximately 0.08% of SITE Centers as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC bought a new stake in SITE Centers in the 3rd quarter worth about $622,000. Virtu Financial LLC purchased a new stake in shares of SITE Centers during the 3rd quarter valued at about $2,399,000. Neo Ivy Capital Management bought a new stake in shares of SITE Centers in the third quarter worth approximately $202,000. Vestcor Inc purchased a new position in shares of SITE Centers during the third quarter valued at approximately $95,000. Finally, Jane Street Group LLC lifted its position in SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after purchasing an additional 5,779 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 1.4 %

SITC stock opened at $14.94 on Thursday. The business’s 50-day moving average price is $15.58 and its 200-day moving average price is $88.37. The stock has a market cap of $783.30 million, a P/E ratio of 1.09 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 twelve month low of $14.74 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) 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 firm had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. During the same period in the prior year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was down 37.5% compared to the same quarter last year. On average, equities research analysts forecast that SITE Centers Corp. will post 3.36 EPS for the current year.

Insider Buying and Selling at SITE Centers

In related news, Director Dawn M. Sweeney sold 3,768 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.54, for a total value of $58,554.72. Following the transaction, the director now directly owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. The trade was a 11.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. Insiders have sold a total of 181,457 shares of company stock valued at $2,791,693 over the last ninety days. 10.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. 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. StockNews.com began coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Finally, Stifel Nicolaus upped their price target on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.04.

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.