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

A number of other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Site Centers by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock valued at $413,000 after acquiring an additional 1,011 shares during the period. Deutsche Bank AG lifted its stake in shares of Site Centers by 1.9% in the fourth quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock valued at $974,000 after buying an additional 1,195 shares during the period. MetLife Investment Management LLC lifted its stake in Site Centers by 5.5% during the fourth quarter. MetLife Investment Management LLC now owns 30,425 shares of the company's stock worth $465,000 after purchasing an additional 1,598 shares during the period. Covestor Ltd lifted its stake 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 during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Site Centers by 10.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,067 shares of the company's stock worth $583,000 after purchasing an additional 3,463 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SITC. Wall Street Zen raised shares of Site Centers from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Piper Sandler reaffirmed an "overweight" rating on shares of Site Centers in a report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $35.25.

Site Centers Stock Up 0.9%

SITC traded up $0.11 during trading on Wednesday, hitting $11.45. The company had a trading volume of 1,150,500 shares, compared to its average volume of 977,700. The company has a market capitalization of $600.18 million, a PE ratio of 1.11 and a beta of 1.36. Site Centers Corp. has a one year low of $10.45 and a one year high of $32.00. The firm's 50-day moving average price is $11.65 and its 200 day moving average price is $12.59. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.58.

Site Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The firm had revenue of $30.66 million for the quarter, compared to analyst estimates of $33.10 million. During the same period in the previous year, the business earned $0.27 EPS. The company's revenue was down 63.8% compared to the same quarter last year. As a group, equities analysts expect that Site Centers Corp. will post 3.24 earnings per share for the current year.

Site Centers Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $1.50 per share.

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.