SITE Centers Corp. (NYSE:SITC) Shares Purchased by Amundi

Amundi raised its holdings in SITE Centers Corp. (NYSE:SITC) by 44.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 49,206 shares of the company’s stock after acquiring an additional 15,227 shares during the period. Amundi’s holdings in SITE Centers were worth $736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SITC. Pacer Advisors Inc. acquired a new stake in SITE Centers in the 4th quarter valued at about $34,297,000. Robeco Institutional Asset Management B.V. acquired a new stake in SITE Centers during the 4th quarter worth about $5,401,000. Advisors Preferred LLC acquired a new stake in SITE Centers during the 4th quarter worth about $2,517,000. Bank of New York Mellon Corp raised its holdings in SITE Centers by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock worth $9,402,000 after buying an additional 157,818 shares during the period. Finally, Graham Capital Wealth Management LLC acquired a new stake in SITE Centers during the 4th quarter worth about $2,226,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on SITC. Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Citigroup cut their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. StockNews.com downgraded SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, SITE Centers presently has a consensus rating of “Hold” and an average price target of $35.61.

SITE Centers Stock Performance

Shares of SITC stock opened at $12.86 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The stock’s 50-day moving average is $14.43 and its two-hundred day moving average is $21.76. The firm has a market cap of $673.99 million, a P/E ratio of 0.94 and a beta of 1.63.

SITE Centers (NYSE:SITC) last issued its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Analysts predict that SITE Centers Corp. will post 3.24 earnings per share 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.