Public Sector Pension Investment Board Grows Stake 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 boosted its position in shares of Site Centers Corp. (NYSE:SITC - Free Report) by 26.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,603 shares of the company's stock after purchasing an additional 31,510 shares during the quarter. Public Sector Pension Investment Board owned about 0.29% of Site Centers worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Site Centers by 61.7% during the 1st quarter. Covestor Ltd now owns 6,072 shares of the company's stock worth $78,000 after purchasing an additional 2,316 shares during the period. GAMMA Investing LLC increased its holdings in Site Centers by 1,223.2% during the 1st quarter. GAMMA Investing LLC now owns 8,230 shares of the company's stock worth $106,000 after purchasing an additional 7,608 shares during the period. Tower Research Capital LLC TRC increased its holdings in Site Centers by 1,306.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,419 shares of the company's stock worth $205,000 after purchasing an additional 12,465 shares during the period. ProShare Advisors LLC increased its holdings in Site Centers by 44.5% during the 4th quarter. ProShare Advisors LLC now owns 14,307 shares of the company's stock worth $219,000 after purchasing an additional 4,405 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Site Centers by 79.7% in the 4th quarter. BNP Paribas Financial Markets now owns 21,460 shares of the company's stock valued at $328,000 after acquiring an additional 9,517 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Site Centers Trading Down 1.5%

Shares of NYSE:SITC opened at $11.8050 on Thursday. 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 company has a market capitalization of $619.05 million, a PE ratio of 1.75 and a beta of 1.36. Site Centers Corp. has a 12-month low of $10.45 and a 12-month high of $30.99. The business's fifty day simple moving average is $11.58 and its 200-day simple moving average is $12.33.

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

Site Centers Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a $1.50 dividend.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SITC shares. Piper Sandler reiterated an "overweight" rating on shares of Site Centers in a report on Tuesday, July 8th. Wall Street Zen upgraded 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, the stock presently has an average rating of "Hold" and a consensus target price 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.

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