AQR Capital Management LLC Has $11.21 Million Stock Holdings in Site Centers Corp. $SITC

Key Points

• AQR Capital Management LLC increased its stake in Site Centers Corp. by 20%, now owning approximately 873,276 shares valued at $11.21 million.
• Site Centers recently declared a special dividend of $3.25 per share, which was paid to investors on August 29th.
• The company reported quarterly earnings of $0.16 per share, matching analysts' estimates, but experienced a significant decline in revenue compared to the previous year.

AQR Capital Management LLC boosted its holdings in shares of Site Centers Corp. (NYSE:SITC - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 873,276 shares of the company's stock after buying an additional 145,604 shares during the period. AQR Capital Management LLC owned approximately 1.67% of Site Centers worth $11,213,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Invesco Ltd. raised its holdings in Site Centers by 3.9% during the first quarter. Invesco Ltd. now owns 2,203,583 shares of the company's stock worth $28,294,000 after buying an additional 82,469 shares during the last quarter. Conversant Capital LLC raised its holdings in Site Centers by 506.4% during the first quarter. Conversant Capital LLC now owns 1,940,579 shares of the company's stock worth $24,917,000 after buying an additional 1,620,579 shares during the last quarter. Rush Island Management LP raised its holdings in Site Centers by 161.0% during the fourth quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock worth $24,193,000 after buying an additional 976,110 shares during the last quarter. Irenic Capital Management LP acquired a new position in Site Centers during the first quarter worth $18,911,000. Finally, Northern Trust Corp raised its holdings in Site Centers by 2.1% during the first quarter. Northern Trust Corp now owns 817,652 shares of the company's stock worth $10,499,000 after buying an additional 16,960 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Site Centers Stock Performance

NYSE SITC opened at $8.93 on Thursday. Site Centers Corp. has a 52-week low of $8.90 and a 52-week high of $30.56. The company has a 50-day simple moving average of $11.16 and a 200 day simple moving average of $11.90. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. The company has a market capitalization of $468.03 million, a PE ratio of 1.32 and a beta of 1.40.

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

Site Centers Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $3.25 per share. The ex-dividend date was Tuesday, September 2nd.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Site Centers from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Piper Sandler reiterated an "overweight" rating on shares of Site Centers in a research note on Tuesday, July 8th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Site Centers in a research note on Tuesday. They issued a "neutral" rating and a $10.00 target price for the company. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Site Centers currently has an average rating of "Hold" and a consensus price target of $28.39.

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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