Jane Street Group LLC Buys 5,779 Shares of SITE Centers Corp. (NYSE:SITC)

Jane Street Group LLC boosted its stake in shares of SITE Centers Corp. (NYSE:SITC) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,217 shares of the company’s stock after acquiring an additional 5,779 shares during the quarter. Jane Street Group LLC owned about 0.35% of SITE Centers worth $11,085,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of SITE Centers by 3,017.5% during the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after buying an additional 739,174 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after buying an additional 535,550 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of SITE Centers during the second quarter valued at approximately $3,089,000. Algert Global LLC grew its stake in shares of SITE Centers by 65.0% during the second quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after buying an additional 162,260 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of SITE Centers by 91.6% during the second quarter. TCW Group Inc. now owns 214,796 shares of the company’s stock valued at $3,115,000 after buying an additional 102,673 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Up 1.2 %

SITE Centers stock opened at $15.58 on Friday. The business has a fifty day moving average of $16.27 and a two-hundred day moving average of $117.84. 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 $816.60 million, a P/E ratio of 1.14 and a beta of 1.61. SITE Centers Corp. has a twelve month low of $15.24 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The company 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%. SITE Centers’s revenue was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. On average, analysts forecast that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

Insider Transactions at SITE Centers

In related news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at $2,093,163.12. This represents a 55.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SITC. Morgan Stanley boosted their price target on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $19.00 in a report on Wednesday, October 2nd. Truist Financial boosted their price target on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Citigroup lowered their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday. Finally, KeyCorp reiterated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently 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.