SITE Centers Corp. (NYSE:SITC) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its position in SITE Centers Corp. (NYSE:SITC) by 75.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,039 shares of the company’s stock after selling 310,871 shares during the period. Algert Global LLC’s holdings in SITE Centers were worth $6,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SITC. O Shaughnessy Asset Management LLC acquired a new position in SITE Centers in the 1st quarter valued at about $147,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of SITE Centers by 5.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 447,965 shares of the company’s stock worth $6,556,000 after acquiring an additional 22,008 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of SITE Centers by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 131,109 shares of the company’s stock worth $1,921,000 after acquiring an additional 6,943 shares during the last quarter. Diversified Trust Co acquired a new position in shares of SITE Centers in the 2nd quarter worth approximately $152,000. Finally, Vanderbilt University lifted its holdings in shares of SITE Centers by 10.0% in the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock worth $179,000 after acquiring an additional 1,126 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Price Performance

SITE Centers stock opened at $16.10 on Friday. The firm has a market cap of $844.12 million, a PE ratio of 1.18 and a beta of 1.62. SITE Centers Corp. has a 52-week low of $15.43 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 company’s 50 day moving average is $26.01 and its two-hundred day moving average is $137.65.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. During the same period in the prior year, the firm posted $1.32 EPS. The company’s quarterly revenue was down 37.5% compared to the same quarter last year. On average, research analysts expect that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. StockNews.com assumed coverage on shares of SITE Centers in a report on Monday, November 18th. They issued a “buy” rating on the stock. Piper Sandler decreased their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Compass Point reduced their target price 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, Morgan Stanley increased their target price on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $58.89.

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.