Tidal Investments LLC Takes Position in SITE Centers Corp. (NYSE:SITC)

Tidal Investments LLC purchased a new stake in SITE Centers Corp. (NYSE:SITC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,970 shares of the company's stock, valued at approximately $504,000. Tidal Investments LLC owned approximately 0.06% of SITE Centers as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SITC. KBC Group NV raised its stake in shares of SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after acquiring an additional 2,193 shares during the last quarter. Covestor Ltd raised its stake in shares of SITE Centers by 483.2% in the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after acquiring an additional 3,112 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after acquiring an additional 833 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of SITE Centers in the fourth quarter worth about $148,000. Finally, Baader Bank Aktiengesellschaft bought a new position in shares of SITE Centers in the fourth quarter worth about $163,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company dropped their target price on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Wall Street Zen downgraded shares of SITE Centers from a "hold" rating to a "sell" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $35.25.

SITE Centers Trading Down 0.2%

NYSE SITC traded down $0.03 during trading on Monday, reaching $11.90. 528,620 shares of the stock traded hands, compared to its average volume of 914,910. The firm has a market cap of $623.83 million, a price-to-earnings ratio of 0.87 and a beta of 1.32. The stock's 50-day moving average price is $11.94 and its 200 day moving average price is $13.78. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a fifty-two week low of $10.46 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million for the quarter, compared to analyst estimates of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm's revenue for the quarter was down 66.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. Analysts predict that SITE Centers Corp. will post 3.24 EPS for the current year.

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.