Metis Global Partners LLC Has $297,000 Stock Position in SITE Centers Corp. (NYSE:SITC)

Metis Global Partners LLC lessened its position in SITE Centers Corp. (NYSE:SITC) by 65.3% in the third quarter, HoldingsChannel reports. The fund owned 4,905 shares of the company’s stock after selling 9,234 shares during the quarter. Metis Global Partners LLC’s holdings in SITE Centers were worth $297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP acquired a new stake in SITE Centers in the 3rd quarter valued at $617,000. Los Angeles Capital Management LLC bought a new stake in SITE Centers in the 3rd quarter valued at about $355,000. Blue Trust Inc. lifted its holdings in SITE Centers by 508.3% during the third quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock valued at $386,000 after purchasing an additional 5,332 shares during the last quarter. AlphaMark Advisors LLC bought a new position in SITE Centers during the third quarter worth about $319,000. Finally, SG Americas Securities LLC increased its stake in shares of SITE Centers by 115.1% in the third quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock worth $987,000 after purchasing an additional 8,731 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com initiated coverage on shares of SITE Centers in a report on Monday. They issued a “buy” rating for the company. Morgan Stanley lifted their price target on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, SITE Centers has a consensus rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Performance

NYSE SITC opened at $15.70 on Tuesday. SITE Centers Corp. has a 52-week low of $15.43 and a 52-week high of $64.44. The company has a fifty day moving average of $29.41 and a 200-day moving average of $142.90. The company has a market capitalization of $823.15 million, a P/E ratio of 1.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

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 the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company’s revenue was down 37.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 earnings per share. As a group, equities research analysts predict 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.