Two Sigma Investments LP Invests $4.34 Million in SITE Centers Corp. (NYSE:SITC)

Two Sigma Investments LP purchased a new position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 283,838 shares of the company's stock, valued at approximately $4,340,000. Two Sigma Investments LP owned 0.54% of SITE Centers as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of SITC. KBC Group NV lifted its holdings in SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after buying an additional 2,193 shares during the period. Covestor Ltd lifted its holdings in SITE Centers by 483.2% in the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock valued at $57,000 after buying an additional 3,112 shares during the period. Van ECK Associates Corp lifted its holdings in SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after buying an additional 833 shares during the period. KLP Kapitalforvaltning AS acquired a new position in SITE Centers in the fourth quarter valued at $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in SITE Centers in the fourth quarter valued at $163,000. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Stock Down 0.6%

Shares of NYSE SITC traded down $0.07 during trading on Friday, hitting $11.92. 749,236 shares of the company traded hands, compared to its average volume of 914,806. The business's fifty day moving average is $11.96 and its 200 day moving average is $13.84. SITE Centers Corp. has a fifty-two week low of $10.46 and a fifty-two week high of $64.44. The firm has a market capitalization of $625.14 million, a price-to-earnings ratio of 0.87 and a beta of 1.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

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

Wall Street Analyst Weigh In

SITC has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report 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 on the stock in a report on Wednesday, March 26th. Finally, Wall Street Zen lowered shares of SITE Centers from a "hold" rating to a "sell" rating in a report on Saturday, May 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SITE Centers presently has an average rating of "Hold" and an average price target of $35.25.

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.