Millennium Management LLC Decreases Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Millennium Management LLC decreased its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 23.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 444,547 shares of the company's stock after selling 134,309 shares during the period. Millennium Management LLC owned about 0.85% of SITE Centers worth $6,797,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SITC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SITE Centers by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock valued at $413,000 after purchasing an additional 1,011 shares in the last quarter. Graham Capital Management L.P. bought a new position in shares of SITE Centers in the 4th quarter worth about $1,926,000. Deutsche Bank AG increased its stake in SITE Centers by 1.9% during the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock valued at $974,000 after purchasing an additional 1,195 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in SITE Centers by 271.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 502,422 shares of the company's stock valued at $7,682,000 after purchasing an additional 367,306 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in shares of SITE Centers in the fourth quarter worth approximately $4,150,000. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SITC. Wall Street Zen downgraded shares of SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Wells Fargo & Company reduced 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 report on Wednesday, March 26th. Finally, Piper Sandler reduced their price target 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 investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, SITE Centers has a consensus rating of "Hold" and an average target price of $35.25.

SITE Centers Trading Up 0.8%

SITC stock traded up $0.09 during mid-day trading on Thursday, reaching $12.00. 421,699 shares of the stock traded hands, compared to its average volume of 910,029. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The stock has a market capitalization of $629.34 million, a PE ratio of 0.88 and a beta of 1.32. The business has a 50-day moving average price of $12.01 and a two-hundred day moving average price of $13.90.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data 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 net margin of 164.10% and a return on equity of 34.20%. The company's revenue was down 66.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. Equities research analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

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.