Hennion & Walsh Asset Management Inc. Purchases Shares of 36,194 SITE Centers Corp. (NYSE:SITC)

Hennion & Walsh Asset Management Inc. acquired a new stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,194 shares of the company's stock, valued at approximately $465,000. Hennion & Walsh Asset Management Inc. owned about 0.07% of SITE Centers as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in SITC. Ameriprise Financial Inc. grew its stake in SITE Centers by 149.4% during the fourth quarter. Ameriprise Financial Inc. now owns 341,867 shares of the company's stock worth $5,227,000 after buying an additional 204,772 shares during the last quarter. Geode Capital Management LLC boosted its stake in SITE Centers by 18.4% in the fourth quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company's stock valued at $21,595,000 after acquiring an additional 219,636 shares during the last quarter. Bank of America Corp DE boosted its stake in SITE Centers by 106.6% in the fourth quarter. Bank of America Corp DE now owns 95,158 shares of the company's stock valued at $1,455,000 after acquiring an additional 49,091 shares during the last quarter. Amundi boosted its stake in SITE Centers by 44.8% in the fourth quarter. Amundi now owns 49,206 shares of the company's stock valued at $736,000 after acquiring an additional 15,227 shares during the last quarter. Finally, Assetmark Inc. boosted its stake in SITE Centers by 287.1% in the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company's stock valued at $1,372,000 after acquiring an additional 66,529 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 $11.85 on Monday. 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 company has a market capitalization of $621.63 million, a P/E ratio of 0.87 and a beta of 1.32. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44. The firm has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $13.67.

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 for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business's revenue was down 66.6% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of SITE Centers from a "sell" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company lowered their price target on shares of 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. Finally, Piper Sandler lowered their price objective on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, SITE Centers has an average rating of "Hold" and an average price target of $35.25.

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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