Two Sigma Advisers LP Increases Position in SITE Centers Corp. (NYSE:SITC)

Two Sigma Advisers LP increased its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 543.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,053 shares of the company's stock after acquiring an additional 61,703 shares during the period. Two Sigma Advisers LP owned about 0.14% of SITE Centers worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of SITE Centers by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company's stock worth $111,556,000 after purchasing an additional 675,190 shares in the last quarter. Invesco Ltd. boosted its position in shares of SITE Centers by 777.4% during the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company's stock valued at $32,432,000 after buying an additional 1,879,351 shares during 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 worth $24,193,000 after buying an additional 976,110 shares in the last quarter. Geode Capital Management LLC raised its position in SITE Centers by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company's stock worth $21,595,000 after buying an additional 219,636 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC raised its position in SITE Centers by 161.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 898,691 shares of the company's stock worth $13,741,000 after buying an additional 554,654 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SITC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. Piper Sandler lowered 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 report on Friday, February 28th. Finally, Wells Fargo & Company cut 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 report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, SITE Centers presently has an average rating of "Hold" and an average price target of $35.25.

SITE Centers Stock Performance

Shares of SITC traded down $0.11 on Wednesday, reaching $11.85. The company's stock had a trading volume of 59,829 shares, compared to its average volume of 912,866. The stock's 50 day simple moving average is $11.93 and its two-hundred day simple moving average is $13.77. 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 stock has a market capitalization of $621.21 million, a P/E ratio of 0.87 and a beta of 1.33. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $0.28 EPS. The company's revenue was down 66.6% compared to the same quarter last year. Research analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

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.