Nuveen LLC Purchases Shares of 495,315 Site Centers Corp. $SITC

Key Points

• Nuveen LLC has acquired 495,315 shares of Site Centers Corp., worth approximately $6.36 million, representing a 0.94% ownership stake in the company.
• Site Centers reported a quarterly earnings per share (EPS) of $0.16, meeting analysts' expectations, although revenue decreased 63.8% year-over-year to $30.66 million.
• The company declared a special dividend of $1.50 per share, with a current dividend payout ratio of 7.69%, highlighting its commitment to returning value to shareholders.

Nuveen LLC purchased a new stake in Site Centers Corp. (NYSE:SITC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 495,315 shares of the company's stock, valued at approximately $6,360,000. Nuveen LLC owned 0.94% of Site Centers at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Site Centers by 3.9% in the 1st quarter. Invesco Ltd. now owns 2,203,583 shares of the company's stock valued at $28,294,000 after purchasing an additional 82,469 shares during the period. Rush Island Management LP lifted its holdings in shares of Site Centers by 161.0% during the 4th quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock worth $24,193,000 after acquiring an additional 976,110 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Site Centers by 161.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 898,691 shares of the company's stock worth $13,741,000 after acquiring an additional 554,654 shares during the period. Northern Trust Corp lifted its holdings in shares of Site Centers by 27.2% during the 4th quarter. Northern Trust Corp now owns 800,692 shares of the company's stock worth $12,243,000 after acquiring an additional 171,246 shares during the period. Finally, Man Group plc lifted its holdings in shares of Site Centers by 1,126.0% during the 4th quarter. Man Group plc now owns 771,623 shares of the company's stock worth $11,798,000 after acquiring an additional 708,685 shares during the period. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SITC has been the subject of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating on shares of Site Centers in a report on Tuesday, July 8th. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Site Centers currently has an average rating of "Hold" and a consensus price target of $35.25.

Site Centers Trading Down 1.3%

Shares of SITC stock opened at $12.0460 on Tuesday. Site Centers Corp. has a 12-month low of $10.45 and a 12-month high of $30.87. The company has a market capitalization of $631.75 million, a P/E ratio of 1.78 and a beta of 1.36. The firm has a 50-day moving average price of $11.60 and a 200 day moving average price of $12.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.59.

Site Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. The firm had revenue of $30.66 million during the quarter, compared to the consensus estimate of $33.10 million. During the same period last year, the firm posted $0.27 EPS. The firm's quarterly revenue was down 63.8% on a year-over-year basis. Research analysts forecast that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $1.50 per share. Site Centers's dividend payout ratio is currently 7.69%.

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.

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