New Age Alpha Advisors LLC Acquires 92,455 Shares of Site Centers Corp. (NYSE:SITC)

Key Points

• New Age Alpha Advisors LLC increased its stake in Site Centers Corp. by 39.3%, owning 327,496 shares valued at approximately $4.2 million.
• Site Centers recently announced a special dividend of $1.50 per share, paid to stockholders of record on June 30th.
• The stock has a consensus rating of "Hold" with an average price target of $35.25 according to analysts, despite a revenue decline of 63.8% year-over-year.

New Age Alpha Advisors LLC lifted its holdings in Site Centers Corp. (NYSE:SITC - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 327,496 shares of the company's stock after purchasing an additional 92,455 shares during the period. New Age Alpha Advisors LLC owned 0.62% of Site Centers worth $4,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Assetmark Inc. lifted its stake in shares of Site Centers by 147.1% in the 1st quarter. Assetmark Inc. now owns 221,632 shares of the company's stock valued at $2,846,000 after purchasing an additional 131,927 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of Site Centers by 174.7% in the 1st quarter. KLP Kapitalforvaltning AS now owns 26,575 shares of the company's stock valued at $341,000 after purchasing an additional 16,900 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Site Centers in the 1st quarter valued at $817,000. Allianz Asset Management GmbH lifted its stake in shares of Site Centers by 532.7% in the 1st quarter. Allianz Asset Management GmbH now owns 81,609 shares of the company's stock valued at $1,048,000 after purchasing an additional 68,710 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in Site Centers during the 1st quarter worth $1,643,000. Institutional investors and hedge funds own 88.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SITC shares. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Piper Sandler reissued an "overweight" rating on shares of Site Centers in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $35.25.

Site Centers Stock Performance

Site Centers stock traded down $0.15 on Friday, reaching $11.22. 1,127,545 shares of the stock were exchanged, compared to its average volume of 1,217,900. The firm has a fifty day moving average price of $11.62 and a two-hundred day moving average price of $12.51. The stock has a market cap of $588.43 million, a PE ratio of 1.66 and a beta of 1.36. The company has a current ratio of 1.74, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. Site Centers Corp. has a twelve month low of $10.45 and a twelve month high of $32.00.

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

Site Centers Dividend Announcement

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