Tidal Investments LLC Invests $504,000 in SITE Centers Corp. (NYSE:SITC)

Tidal Investments LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,970 shares of the company's stock, valued at approximately $504,000. Tidal Investments LLC owned 0.06% of SITE Centers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in SITC. KBC Group NV raised its holdings in SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Covestor Ltd raised its holdings in SITE Centers by 483.2% during the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after purchasing an additional 3,112 shares in the last quarter. Van ECK Associates Corp raised its holdings in SITE Centers by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after purchasing an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in SITE Centers during the fourth quarter worth about $148,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in SITE Centers during the fourth quarter worth about $163,000. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Price Performance

SITE Centers stock traded down $0.07 during mid-day trading on Friday, reaching $11.92. The company had a trading volume of 749,236 shares, compared to its average volume of 914,806. SITE Centers Corp. has a 1 year low of $10.46 and a 1 year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The company has a market capitalization of $625.14 million, a P/E ratio of 0.87 and a beta of 1.32. The stock's 50-day simple moving average is $11.96 and its 200-day simple moving average is $13.84.

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 for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $40.35 million for the quarter, compared to analysts' expectations of $33.50 million. During the same period last year, the business earned $0.28 earnings per share. The company's revenue for the quarter was down 66.6% on a year-over-year basis. On average, equities analysts predict that SITE Centers Corp. will post 3.24 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SITC shares. Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Wells Fargo & Company cut their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, Wall Street Zen cut shares of SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.