Site Centers Corp. (NYSE:SITC) Shares Acquired by New Age Alpha Advisors LLC

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

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its stake in Site Centers by 147.1% during 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 period. KLP Kapitalforvaltning AS boosted its position in shares of Site Centers by 174.7% during the first quarter. KLP Kapitalforvaltning AS now owns 26,575 shares of the company's stock worth $341,000 after buying an additional 16,900 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Site Centers in the 1st quarter worth approximately $817,000. Allianz Asset Management GmbH increased its position in 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 acquiring an additional 68,710 shares during the period. Finally, Jennison Associates LLC bought a new stake in Site Centers during the 1st quarter valued at $1,643,000. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Piper Sandler reissued an "overweight" rating on shares of Site Centers in a research note 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. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $35.25.

Site Centers Price Performance

Shares of Site Centers stock traded down $0.15 during trading on Friday, hitting $11.22. The stock had a trading volume of 1,127,545 shares, compared to its average volume of 1,217,900. The business has a fifty day moving average of $11.62 and a two-hundred day moving average of $12.52. Site Centers Corp. has a fifty-two week low of $10.45 and a fifty-two week high of $32.00. The firm has a market cap of $588.38 million, a P/E ratio of 1.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 0.92.

Site Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, hitting 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 for the quarter, compared to analysts' expectations of $33.10 million. During the same period in the previous year, the business earned $0.27 earnings per share. Site Centers's revenue for the quarter was down 63.8% compared to the same quarter last year. On average, sell-side analysts expect that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Dividend Announcement

The firm also recently announced a special dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $1.50 per share.

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.