SITE Centers Corp. (NYSE:SITC) Shares Sold by Covestor Ltd

Covestor Ltd reduced its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 89.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644 shares of the company’s stock after selling 5,403 shares during the period. Covestor Ltd’s holdings in SITE Centers were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Long Pond Capital LP lifted its stake in shares of SITE Centers by 403.8% during the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock worth $84,885,000 after buying an additional 4,644,142 shares during the period. Dimensional Fund Advisors LP lifted its position in SITE Centers by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock worth $39,426,000 after acquiring an additional 31,529 shares during the period. APG Asset Management US Inc. grew its stake in SITE Centers by 145.0% during the 2nd quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after purchasing an additional 535,550 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of SITE Centers by 6.8% in the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after purchasing an additional 56,013 shares during the period. Finally, Bank of Montreal Can increased its holdings 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 purchasing an additional 739,174 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Piper Sandler reduced their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Compass Point lowered their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, StockNews.com upgraded SITE Centers from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $58.89.

SITE Centers Trading Down 0.9 %

SITC stock opened at $15.62 on Monday. SITE Centers Corp. has a 52-week low of $15.52 and a 52-week high of $64.44. 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 firm has a market cap of $818.96 million, a P/E ratio of 1.14 and a beta of 1.62. The company’s 50-day simple moving average is $30.23 and its 200-day simple moving average is $144.35.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results 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. The company had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. SITE Centers’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.32 earnings per share. As a group, equities analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

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.