Hsbc Holdings PLC Increases Stake in SITE Centers Corp. (NYSE:SITC)

Hsbc Holdings PLC raised its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 161.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,387 shares of the company's stock after buying an additional 60,769 shares during the period. Hsbc Holdings PLC owned approximately 0.19% of SITE Centers worth $1,496,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. KBC Group NV boosted 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 purchasing an additional 2,193 shares during the period. Covestor Ltd grew its position in shares of 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 buying an additional 3,112 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 buying an additional 833 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in SITE Centers in the fourth quarter valued at approximately $148,000. Finally, World Investment Advisors LLC purchased a new position in SITE Centers in the third quarter worth approximately $622,000. Institutional investors and hedge funds own 88.70% of the company's stock.

SITE Centers Stock Performance

Shares of SITC opened at $11.97 on Friday. The company's 50 day simple moving average is $12.40 and its 200-day simple moving average is $14.45. The firm has a market cap of $627.77 million, a PE ratio of 0.88 and a beta of 1.30. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $32.87 million for the quarter, compared to analysts' expectations of $43.58 million. As a group, equities analysts predict that SITE Centers Corp. will post 3.24 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SITC shares. Piper Sandler reduced their price objective 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. StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.

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