Jefferies Financial Group Inc. Acquires Shares of 1,819,088 Site Centers Corp. $SITC

Key Points

• Jefferies Financial Group acquired 1,819,088 Site Centers shares worth approximately $7.22 million, representing a 3.47% stake. Institutional investors collectively own 88.7% of the company.
• Site Centers shares opened at $2.98, near their 12-month low of $2.89, after declining 1.5%. The company reported a quarterly loss of $0.03 per share but exceeded analyst expectations, while revenue of $6.85 million fell short of forecasts.
• Analyst sentiment remains weak, with an average rating of “Reduce” and a consensus price target of $6.75; Zacks downgraded the stock to “strong sell.” Site Centers also recently paid a special $1.00 dividend.

Jefferies Financial Group Inc. purchased a new position in shares of Site Centers Corp. (NYSE:SITC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,819,088 shares of the company's stock, valued at approximately $7,222,000. Jefferies Financial Group Inc. owned 3.47% of Site Centers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of SITC. EverSource Wealth Advisors LLC grew its position in shares of Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company's stock worth $43,000 after purchasing an additional 3,671 shares in the last quarter. WealthCollab LLC raised its position in shares of Site Centers by 950.8% in the first quarter. WealthCollab LLC now owns 5,296 shares of the company's stock valued at $29,000 after buying an additional 4,792 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Site Centers by 380.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company's stock valued at $45,000 after buying an additional 5,535 shares during the period. Osaic Holdings Inc. boosted its stake in shares of Site Centers by 926.6% in the second quarter. Osaic Holdings Inc. now owns 7,884 shares of the company's stock valued at $99,000 after buying an additional 7,116 shares during the period. Finally, Parallel Advisors LLC grew its position in Site Centers by 3,546.9% during the first quarter. Parallel Advisors LLC now owns 8,242 shares of the company's stock worth $45,000 after buying an additional 8,016 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Site Centers Stock Down 1.5%

NYSE SITC opened at $2.98 on Friday. The company has a market cap of $156.62 million, a price-to-earnings ratio of 1.24 and a beta of 0.99. Site Centers Corp. has a twelve month low of $2.89 and a twelve month high of $12.39. The business's fifty day moving average is $3.89 and its 200 day moving average is $5.00.

Site Centers (NYSE:SITC - Get Free Report) last issued its earnings results on Monday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.08. The business had revenue of $6.85 million during the quarter, compared to analysts' expectations of $8.20 million. Site Centers had a return on equity of 40.56% and a net margin of 219.18%. On average, research analysts anticipate that Site Centers Corp. will post -0.29 earnings per share for the current fiscal year.

Site Centers Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a $1.00 dividend.

Analyst Ratings Changes

SITC has been the subject of several recent analyst reports. Zacks Research cut shares of Site Centers from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 20th. Weiss Ratings restated a "sell (d)" rating on shares of Site Centers in a research report on Wednesday, June 24th. Piper Sandler cut their price target on shares of Site Centers from $5.00 to $3.50 and set a "neutral" rating for the company in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Site Centers from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $6.75.

Site Centers Profile

Site Centers NYSE: SITC is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company's portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.

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