Brown Advisory Inc. Raises Position in SITE CENTERS CORP. (NYSE:SITC)

Brown Advisory Inc. boosted its stake in SITE CENTERS CORP. (NYSE:SITC - Free Report) by 100.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 759,033 shares of the company's stock after acquiring an additional 380,711 shares during the period. Brown Advisory Inc. owned 1.45% of SITE CENTERS worth $9,746,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in SITE CENTERS by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 619,273 shares of the company's stock valued at $7,951,000 after acquiring an additional 4,354 shares during the period. Principal Financial Group Inc. increased its position in SITE CENTERS by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 277,998 shares of the company's stock valued at $3,569,000 after acquiring an additional 6,931 shares during the period. Robeco Institutional Asset Management B.V. increased its position in SITE CENTERS by 13.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 402,405 shares of the company's stock valued at $5,167,000 after acquiring an additional 49,190 shares during the period. CWA Asset Management Group LLC increased its position in SITE CENTERS by 35.1% in the 1st quarter. CWA Asset Management Group LLC now owns 53,521 shares of the company's stock valued at $687,000 after acquiring an additional 13,905 shares during the period. Finally, SG Americas Securities LLC increased its position in SITE CENTERS by 111.1% during the 1st quarter. SG Americas Securities LLC now owns 59,376 shares of the company's stock worth $762,000 after purchasing an additional 31,246 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE CENTERS Price Performance

SITC stock traded down $0.16 on Friday, reaching $11.44. The company had a trading volume of 640,258 shares, compared to its average volume of 1,015,314. SITE CENTERS CORP. has a 1 year low of $10.46 and a 1 year high of $64.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The company's fifty day moving average is $12.01 and its 200 day moving average is $13.11. The company has a market cap of $600.12 million, a P/E ratio of 5.25 and a beta of 1.31.

SITE CENTERS (NYSE:SITC - Get Free Report) last posted its 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 net margin of 201.78% and a return on equity of 39.38%. The company had revenue of $40.35 million during the quarter, compared to analysts' expectations of $33.50 million. During the same period in the previous year, the company posted $0.28 EPS. SITE CENTERS's quarterly revenue was down 66.6% compared to the same quarter last year. On average, research analysts forecast that SITE CENTERS CORP. will post 3.24 earnings per share for the current year.

SITE CENTERS Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $1.50 dividend.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports 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 reiterated an "overweight" rating on shares of SITE CENTERS in a research report on Tuesday. Finally, Wall Street Zen upgraded SITE CENTERS from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $35.25.

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.