Teacher Retirement System of Texas Reduces Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Teacher Retirement System of Texas lessened its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 33.1% in the 4th quarter, HoldingsChannel reports. The firm owned 24,993 shares of the company’s stock after selling 12,382 shares during the quarter. Teacher Retirement System of Texas’ holdings in SITE Centers were worth $382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. KBC Group NV raised its stake in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares during the last quarter. Vestcor Inc purchased a new position in SITE Centers during the third quarter valued at approximately $95,000. Van ECK Associates Corp boosted its position in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after purchasing an additional 833 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the 4th quarter worth approximately $163,000. Finally, Neo Ivy Capital Management purchased a new position in shares of SITE Centers during the 3rd quarter valued at approximately $202,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Price Performance

Shares of NYSE SITC opened at $12.87 on Tuesday. The firm has a 50-day simple moving average of $14.07 and a 200-day simple moving average of $18.96. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $674.51 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. SITE Centers Corp. has a 52 week low of $12.47 and a 52 week high of $64.44.

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 company had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. On average, equities analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler dropped their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Citigroup dropped their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company lowered their price target on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.25.

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.