D. E. Shaw & Co. Inc. Raises Stock Holdings in SITE Centers Corp. (NYSE:SITC)

D. E. Shaw & Co. Inc. grew its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 271.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 502,422 shares of the company's stock after buying an additional 367,306 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.96% of SITE Centers worth $7,682,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SITC. Caxton Associates LP purchased a new position in SITE Centers during the 4th quarter valued at about $4,150,000. Bank of America Corp DE boosted its holdings in SITE Centers by 106.6% in the fourth quarter. Bank of America Corp DE now owns 95,158 shares of the company's stock valued at $1,455,000 after acquiring an additional 49,091 shares in the last quarter. BNP Paribas Financial Markets increased its position in SITE Centers by 79.7% during the 4th quarter. BNP Paribas Financial Markets now owns 21,460 shares of the company's stock valued at $328,000 after purchasing an additional 9,517 shares during the period. Ameriprise Financial Inc. raised its holdings in SITE Centers by 149.4% in the 4th quarter. Ameriprise Financial Inc. now owns 341,867 shares of the company's stock worth $5,227,000 after purchasing an additional 204,772 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of SITE Centers during the 4th quarter worth approximately $436,000. 88.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

SITC has been the subject of several recent research reports. Piper Sandler lowered their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company dropped their target price 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. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $35.25.

SITE Centers Stock Performance

NYSE:SITC traded down $0.21 during mid-day trading on Wednesday, hitting $12.06. 79,196 shares of the company traded hands, compared to its average volume of 905,507. SITE Centers Corp. has a one year low of $10.46 and a one year 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 $632.49 million, a price-to-earnings ratio of 0.88 and a beta of 1.32. The stock's fifty day moving average price is $12.12 and its 200-day moving average price is $14.06.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) 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 analysts' expectations of $33.50 million. During the same quarter in the previous year, the company posted $0.28 EPS. The company's quarterly revenue was down 66.6% on a year-over-year basis. Research analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share 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.