DRW Securities LLC Makes New $342,000 Investment in SITE Centers Corp. (NYSE:SITC)

DRW Securities LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,337 shares of the company's stock, valued at approximately $342,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. APG Asset Management US Inc. lifted its holdings in SITE Centers by 108.7% in the fourth quarter. APG Asset Management US Inc. now owns 802,381 shares of the company's stock worth $12,268,000 after acquiring an additional 417,947 shares during the last quarter. Renaissance Technologies LLC raised its position in SITE Centers by 17.9% in the fourth quarter. Renaissance Technologies LLC now owns 505,236 shares of the company's stock worth $7,725,000 after acquiring an additional 76,677 shares in the last quarter. Invesco Ltd. lifted its stake in SITE Centers by 777.4% during the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock valued at $32,432,000 after purchasing an additional 1,879,351 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of SITE Centers during the 4th quarter worth $205,000. Finally, Wells Fargo & Company MN raised its holdings in SITE Centers by 26.5% during the 4th quarter. Wells Fargo & Company MN now owns 28,322 shares of the company's stock worth $433,000 after buying an additional 5,927 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SITE Centers Trading Up 1.2 %

Shares of NYSE:SITC traded up $0.14 during midday trading on Wednesday, hitting $11.75. 96,757 shares of the stock were exchanged, compared to its average volume of 944,514. The business's 50-day moving average price is $13.16 and its 200 day moving average price is $15.21. 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 Corp. has a 12 month low of $10.45 and a 12 month high of $32.22. The stock has a market capitalization of $616.05 million, a price-to-earnings ratio of 0.86 and a beta of 1.30.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current year.

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.