SG Americas Securities LLC Boosts Stock Holdings in Site Centers Corp. (NYSE:SITC)

SG Americas Securities LLC raised its stake in Site Centers Corp. (NYSE:SITC - Free Report) by 111.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,376 shares of the company's stock after purchasing an additional 31,246 shares during the quarter. SG Americas Securities LLC owned about 0.11% of Site Centers worth $762,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. increased its position in shares of Site Centers by 777.4% in the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock worth $32,432,000 after acquiring an additional 1,879,351 shares in the last quarter. Rush Island Management LP increased its holdings in Site Centers by 161.0% in the 4th quarter. Rush Island Management LP now owns 1,582,301 shares of the company's stock valued at $24,193,000 after purchasing an additional 976,110 shares in the last quarter. Man Group plc raised its position in Site Centers by 1,126.0% in the fourth quarter. Man Group plc now owns 771,623 shares of the company's stock valued at $11,798,000 after purchasing an additional 708,685 shares during the period. AQR Capital Management LLC lifted its stake in shares of Site Centers by 3,701.4% during the fourth quarter. AQR Capital Management LLC now owns 727,672 shares of the company's stock worth $11,126,000 after purchasing an additional 708,530 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Site Centers by 10.2% in the fourth quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company's stock worth $111,556,000 after buying an additional 675,190 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Site Centers Trading Up 7.7%

SITC opened at $12.35 on Friday. Site Centers Corp. has a 52-week low of $10.46 and a 52-week high of $64.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $647.74 million, a P/E ratio of 1.20 and a beta of 1.32. The firm's 50 day moving average is $11.93 and its 200-day moving average is $13.45.

Site Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). Site Centers had a return on equity of 39.38% and a net margin of 201.78%. The company had revenue of $40.35 million for the quarter, compared to analyst estimates of $33.50 million. During the same period in the previous year, the business posted $0.28 EPS. The firm's quarterly revenue was down 66.6% compared to the same quarter last year. Analysts expect that Site Centers Corp. will post 3.24 EPS for the current fiscal year.

Site Centers Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $1.50 dividend.

Analyst Upgrades and Downgrades

SITC has been the topic of several analyst reports. Wall Street Zen upgraded Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Piper Sandler dropped their price objective on shares of 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 shares of 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. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $35.25.

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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