Millennium Management LLC Sells 134,309 Shares of SITE Centers Corp. (NYSE:SITC)

Millennium Management LLC reduced its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 444,547 shares of the company's stock after selling 134,309 shares during the period. Millennium Management LLC owned 0.85% of SITE Centers worth $6,797,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SITE Centers by 3.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock valued at $413,000 after acquiring an additional 1,011 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of SITE Centers during the fourth quarter worth $1,926,000. Deutsche Bank AG lifted its holdings in shares of SITE Centers by 1.9% during the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock worth $974,000 after purchasing an additional 1,195 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of SITE Centers by 271.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 502,422 shares of the company's stock worth $7,682,000 after purchasing an additional 367,306 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of SITE Centers during the fourth quarter worth $4,150,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITC has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Wall Street Zen cut SITE Centers from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Piper Sandler cut their price target on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $35.25.

SITE Centers Price Performance

SITC stock traded down $0.07 during trading hours on Friday, hitting $11.92. 749,236 shares of the stock traded hands, compared to its average volume of 916,471. The stock has a 50-day simple moving average of $11.96 and a 200 day simple moving average of $13.82. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The company has a market cap of $625.14 million, a P/E ratio of 0.87 and a beta of 1.32. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. During the same period in the prior year, the business earned $0.28 EPS. The company's quarterly revenue was down 66.6% compared to the same quarter last year. Equities analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current year.

SITE Centers 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.