Public Sector Pension Investment Board Has $1.92 Million Stock Holdings in Site Centers Corp. $SITC

Key Points

• The Public Sector Pension Investment Board has increased its stake in Site Centers Corp. by 26.7% during the first quarter, holding around 149,603 shares valued at approximately $1.92 million as of the latest SEC filing.
• Site Centers reported a 63.8% decline in quarterly revenue year-over-year, with earnings per share matching analysts' expectations at $0.16, despite revenue falling short of predictions.
• A special dividend of $1.50 was recently paid to shareholders, with strong institutional investor interest as 88.70% of the stock is owned by hedge funds and other institutions.

Public Sector Pension Investment Board lifted its holdings in shares of Site Centers Corp. (NYSE:SITC - Free Report) by 26.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 149,603 shares of the company's stock after purchasing an additional 31,510 shares during the period. Public Sector Pension Investment Board owned 0.29% of Site Centers worth $1,921,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 last quarter. Deutsche Bank AG boosted its holdings in Site Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock valued at $974,000 after acquiring an additional 1,195 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Site Centers by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 30,425 shares of the company's stock valued at $465,000 after acquiring an additional 1,598 shares during the last quarter. Covestor Ltd boosted its holdings in Site Centers by 61.7% in the first quarter. Covestor Ltd now owns 6,072 shares of the company's stock valued at $78,000 after acquiring an additional 2,316 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Site Centers by 10.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,067 shares of the company's stock valued at $583,000 after acquiring an additional 3,463 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SITC. Wall Street Zen raised Site Centers from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Piper Sandler reissued an "overweight" rating on shares of Site Centers in a research note on Tuesday, July 8th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $35.25.

Site Centers Stock Up 0.2%

Shares of NYSE SITC traded up $0.03 during mid-day trading on Tuesday, reaching $12.05. 561,529 shares of the company's stock were exchanged, compared to its average volume of 1,078,322. The firm has a market capitalization of $631.74 million, a price-to-earnings ratio of 1.78 and a beta of 1.36. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $11.61 and a 200 day simple moving average of $12.23. Site Centers Corp. has a twelve month low of $10.45 and a twelve month high of $30.81.

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

Site Centers Increases Dividend

The company also recently announced a special dividend, which will be paid on Friday, January 1st. Investors of record on Friday, August 15th will be given a $3.25 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Site Centers's previous special dividend of $1.50.

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.