Universal Beteiligungs und Servicegesellschaft mbH Acquires Shares of 63,659 Site Centers Corp. (NYSE:SITC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has made a new investment of $817,000 in Site Centers Corp. by acquiring 63,659 shares, representing a 0.12% stake in the company.
• Site Centers recently declared a special dividend of $1.50, which was paid on July 15th to stockholders of record on June 30th.
• The company's quarterly earnings report showed $0.16 earnings per share, missing estimates and indicating a significant 66.6% revenue decrease year-over-year.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Site Centers Corp. (NYSE:SITC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 63,659 shares of the company's stock, valued at approximately $817,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.12% of Site Centers as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH lifted its position in shares of Site Centers by 532.7% during the first quarter. Allianz Asset Management GmbH now owns 81,609 shares of the company's stock valued at $1,048,000 after buying an additional 68,710 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Site Centers in the 1st quarter valued at approximately $1,643,000. Brown Advisory Inc. raised its position in shares of Site Centers by 100.6% in the 1st quarter. Brown Advisory Inc. now owns 759,033 shares of the company's stock valued at $9,746,000 after purchasing an additional 380,711 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Site Centers by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 619,273 shares of the company's stock valued at $7,951,000 after purchasing an additional 4,354 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Site Centers by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 277,998 shares of the company's stock valued at $3,569,000 after purchasing an additional 6,931 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of Site Centers in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a research 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 data from MarketBeat.com, Site Centers has an average rating of "Hold" and an average price target of $35.25.

Site Centers Stock Performance

NYSE:SITC traded down $0.14 during midday trading on Friday, hitting $10.63. The company's stock had a trading volume of 2,563,419 shares, compared to its average volume of 1,160,196. Site Centers Corp. has a fifty-two week low of $10.45 and a fifty-two week high of $32.00. The firm's 50 day moving average is $11.68 and its 200-day moving average is $12.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $557.44 million, a P/E ratio of 1.03 and a beta of 1.36.

Site Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 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 return on equity of 39.38% and a net margin of 201.78%. Site Centers's revenue for the quarter was down 66.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. Equities analysts anticipate that Site Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Site Centers Announces Dividend

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

About Site Centers

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.