Brown Advisory Inc. Acquires 380,711 Shares of Site Centers Corp. (NYSE:SITC)

Brown Advisory Inc. increased its holdings in shares of Site Centers Corp. (NYSE:SITC - Free Report) by 100.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,033 shares of the company's stock after purchasing an additional 380,711 shares during the period. Brown Advisory Inc. owned approximately 1.45% of Site Centers worth $9,746,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its holdings in shares of Site Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock valued at $57,000 after purchasing an additional 3,112 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Site Centers by 1,223.2% during the 1st quarter. GAMMA Investing LLC now owns 8,230 shares of the company's stock valued at $106,000 after purchasing an additional 7,608 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Site Centers during the 4th quarter valued at about $148,000. Rangeley Capital LLC bought a new position in shares of Site Centers during the 4th quarter valued at about $186,000. Finally, Aristides Capital LLC bought a new position in shares of Site Centers during the 4th quarter valued at about $205,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on SITC. Wall Street Zen upgraded Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Piper Sandler restated an "overweight" rating on shares of Site Centers in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company cut their target price on Site Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Site Centers currently has a consensus rating of "Hold" and an average price target of $35.25.

Site Centers Stock Down 0.1%

Shares of Site Centers stock traded down $0.02 on Monday, reaching $11.45. 617,036 shares of the company were exchanged, compared to its average volume of 1,016,344. Site Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The company has a market capitalization of $600.18 million, a price-to-earnings ratio of 1.11 and a beta of 1.31. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $12.00 and a 200 day moving average of $13.05.

Site Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data 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 39.38% and a net margin of 201.78%. The company had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. During the same quarter in the prior year, the company earned $0.28 EPS. The company's revenue for the quarter was down 66.6% on a year-over-year basis. On average, equities research analysts forecast that Site Centers Corp. will post 3.24 earnings per share for the current year.

Site Centers Dividend Announcement

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

About Site Centers

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.