Nuveen Asset Management LLC Raises Position in SITE Centers Corp. (NYSE:SITC)

Nuveen Asset Management LLC raised its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 56.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 675,261 shares of the company's stock after buying an additional 242,683 shares during the quarter. Nuveen Asset Management LLC owned about 1.29% of SITE Centers worth $10,325,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of SITE Centers by 72.4% in the fourth quarter. SG Americas Securities LLC now owns 28,130 shares of the company's stock worth $430,000 after acquiring an additional 11,812 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of SITE Centers by 33,478.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,804 shares of the company's stock worth $288,000 after buying an additional 18,748 shares in the last quarter. KBC Group NV lifted its position in shares of SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after buying an additional 2,193 shares in the last quarter. Pacer Advisors Inc. bought a new stake in SITE Centers during the fourth quarter worth approximately $34,297,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in SITE Centers during the fourth quarter worth approximately $5,401,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

SITE Centers Stock Down 0.6%

NYSE SITC traded down $0.07 during midday trading on Friday, hitting $11.92. 749,236 shares of the company traded hands, compared to its average volume of 914,806. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The company has a market cap of $625.14 million, a PE ratio of 0.87 and a beta of 1.32. The company's 50-day simple moving average is $11.96 and its 200-day simple moving average is $13.84. 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 announced 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%. The firm's revenue was down 66.6% compared to the same quarter last year. During the same period last year, the business posted $0.28 EPS. As a group, equities research analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Wall Street Analyst Weigh In

SITC has been the topic of a number of analyst reports. Wall Street Zen cut SITE Centers from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. Piper Sandler cut their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their price objective on 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $35.25.

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.