65,628 Shares in Site Centers Corp. $SITC Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems acquired 65,628 shares of Site Centers Corp., valued at approximately $742,000, increasing its stake to 0.13% by the end of the most recent quarter.
• Analysts have set a consensus price target of $13.13 for Site Centers, with ratings ranging from one Buy, three Hold, to one Sell.
• Site Centers announced a special dividend of $1.00 to be paid on November 14th, with an ex-dividend date on October 31st.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Site Centers Corp. (NYSE:SITC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 65,628 shares of the company's stock, valued at approximately $742,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.13% of Site Centers at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SITC. Robeco Institutional Asset Management B.V. increased its holdings in Site Centers by 13.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 402,405 shares of the company's stock worth $5,167,000 after acquiring an additional 49,190 shares during the period. Principal Financial Group Inc. increased its holdings in Site Centers by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 277,998 shares of the company's stock worth $3,569,000 after acquiring an additional 6,931 shares during the period. Bank of New York Mellon Corp increased its holdings in Site Centers by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 619,273 shares of the company's stock worth $7,951,000 after acquiring an additional 4,354 shares during the period. Brown Advisory Inc. increased its holdings in Site Centers by 100.6% during the 1st quarter. Brown Advisory Inc. now owns 759,033 shares of the company's stock worth $9,746,000 after acquiring an additional 380,711 shares during the period. Finally, Jennison Associates LLC bought a new stake in Site Centers during the 1st quarter worth approximately $1,643,000. Institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Site Centers in a report on Tuesday, September 9th. They set a "neutral" rating and a $10.00 target price on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Site Centers in a report on Wednesday, October 8th. Finally, Piper Sandler set a $12.00 price target on shares of Site Centers and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.13.

Site Centers Price Performance

Shares of NYSE:SITC opened at $8.85 on Friday. Site Centers Corp. has a one year low of $8.42 and a one year high of $17.30. The firm has a market capitalization of $463.83 million, a price-to-earnings ratio of 1.31 and a beta of 1.39. The company's fifty day moving average price is $9.54 and its 200-day moving average price is $10.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74.

Site Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. The company had revenue of $30.66 million during the quarter, compared to analysts' expectations of $33.10 million. During the same quarter in the prior year, the company earned $0.27 EPS. The firm's revenue was down 63.8% on a year-over-year basis. On average, equities research analysts anticipate that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st.

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.

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