Man Group plc Boosts Holdings in SITE Centers Corp. (NYSE:SITC)

Man Group plc lifted its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 1,126.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 771,623 shares of the company's stock after buying an additional 708,685 shares during the quarter. Man Group plc owned approximately 1.47% of SITE Centers worth $11,798,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV grew its position in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after buying an additional 2,193 shares during the period. Covestor Ltd grew its position in shares of SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after buying an additional 3,112 shares during the period. Van ECK Associates Corp grew its position in shares of SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after buying an additional 833 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of SITE Centers in the 4th quarter worth about $148,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of SITE Centers in the 4th quarter worth about $163,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Stock Performance

SITC traded down $0.17 during midday trading on Friday, hitting $11.59. 542,769 shares of the company traded hands, compared to its average volume of 912,029. 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 firm has a market capitalization of $607.58 million, a PE ratio of 0.85 and a beta of 1.32. The company's 50-day moving average is $12.07 and its 200 day moving average is $13.97. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44.

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 the consensus estimate of $0.18 by ($0.02). The company had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's revenue was down 66.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. On average, research analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

Analysts Set New Price Targets

SITC has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of SITE Centers from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company cut their price objective on shares of 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. Finally, Piper Sandler cut 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 report on Friday, February 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $35.25.

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.