AQR Capital Management LLC Grows Position in SITE Centers Corp. (NYSE:SITC)

AQR Capital Management LLC lifted its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 3,701.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 727,672 shares of the company's stock after buying an additional 708,530 shares during the quarter. AQR Capital Management LLC owned approximately 1.39% of SITE Centers worth $11,126,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. KBC Group NV lifted 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 in the last quarter. Covestor Ltd increased its holdings in SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock valued at $57,000 after acquiring an additional 3,112 shares during the last quarter. Van ECK Associates Corp increased its holdings in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after acquiring an additional 833 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in SITE Centers in the 4th quarter valued at $148,000. Finally, World Investment Advisors LLC bought a new stake in SITE Centers in the 3rd quarter valued at $622,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

SITE Centers Price Performance

Shares of SITE Centers stock traded down $0.02 during trading hours on Friday, reaching $12.03. The company's stock had a trading volume of 561,246 shares, compared to its average volume of 906,380. The firm has a 50 day moving average price of $12.21 and a 200-day moving average price of $14.24. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock has a market cap of $630.91 million, a P/E ratio of 0.88 and a beta of 1.32.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $40.35 million during the quarter, compared to the consensus estimate of $33.50 million. During the same quarter last year, the firm earned $0.28 earnings per share. The business's quarterly revenue was down 66.6% on a year-over-year basis. On average, analysts predict that SITE Centers Corp. will post 3.24 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SITC. StockNews.com downgraded shares of SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, Piper Sandler reduced their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SITE Centers currently has an average rating of "Hold" and an average target price of $35.25.

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.