Ameriprise Financial Inc. Has $5.23 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Ameriprise Financial Inc. boosted its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 149.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,867 shares of the company's stock after buying an additional 204,772 shares during the period. Ameriprise Financial Inc. owned approximately 0.65% of SITE Centers worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of SITC. SG Americas Securities LLC raised its position in SITE Centers by 72.4% during the fourth quarter. SG Americas Securities LLC now owns 28,130 shares of the company's stock valued at $430,000 after buying an additional 11,812 shares during the period. Exchange Traded Concepts LLC raised its position in SITE Centers by 33,478.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,804 shares of the company's stock valued at $288,000 after buying an additional 18,748 shares during the period. KBC Group NV increased its position in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after purchasing an additional 2,193 shares during the last quarter. Pacer Advisors Inc. acquired a new position in SITE Centers in the 4th quarter worth about $34,297,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in SITE Centers in the 4th quarter worth about $5,401,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Piper Sandler dropped their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Finally, Wall Street Zen downgraded SITE Centers from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $35.25.

SITE Centers Stock Up 0.8%

Shares of SITC traded up $0.09 during trading hours on Thursday, hitting $12.00. 421,699 shares of the company were exchanged, compared to its average volume of 912,647. The company has a market cap of $629.34 million, a PE ratio of 0.88 and a beta of 1.32. The firm's 50 day moving average is $11.98 and its 200-day moving average is $13.87. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44. 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 (NYSE:SITC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. During the same quarter in the previous year, the company earned $0.28 EPS. SITE Centers's revenue for the quarter was down 66.6% compared to the same quarter last year. On average, equities research analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

SITE Centers 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.