Ameriprise Financial Inc. Boosts Holdings in SITE Centers Corp. (NYSE:SITC)

Ameriprise Financial Inc. increased its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 149.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,867 shares of the company's stock after acquiring 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 (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in SITE Centers by 72.4% during the 4th quarter. SG Americas Securities LLC now owns 28,130 shares of the company's stock valued at $430,000 after acquiring an additional 11,812 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of SITE Centers by 33,478.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 18,804 shares of the company's stock worth $288,000 after purchasing an additional 18,748 shares during the last quarter. KBC Group NV raised its holdings in shares of SITE Centers by 170.4% during the fourth 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 during the fourth quarter valued at $34,297,000. Finally, Robeco Institutional Asset Management B.V. acquired a new position in SITE Centers during the fourth quarter valued at $5,401,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SITC. Wells Fargo & Company cut their price target 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 lowered their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Wall Street Zen cut SITE Centers from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $35.25.

SITE Centers Price Performance

Shares of NYSE:SITC traded up $0.41 during trading on Tuesday, reaching $12.02. 690,220 shares of the company's stock traded hands, compared to its average volume of 911,142. SITE Centers Corp. has a fifty-two week low of $10.46 and a fifty-two week 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 $630.13 million, a PE ratio of 0.88 and a beta of 1.32. The company has a 50-day simple moving average of $12.04 and a 200-day simple moving average of $13.92.

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 for the quarter, compared to analysts' expectations of $33.50 million. During the same quarter in the prior year, the company posted $0.28 EPS. The business's revenue for the quarter was down 66.6% compared to the same quarter last year. As a group, 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.