SITE Centers Corp. (NYSE:SITC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,880 shares of the company's stock after selling 32,092 shares during the quarter. Legal & General Group Plc owned approximately 0.64% of SITE Centers worth $5,120,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. KBC Group NV lifted its holdings in SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after buying an additional 2,193 shares during the last quarter. Van ECK Associates Corp lifted its stake in 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 purchasing an additional 833 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in SITE Centers in the fourth quarter worth $148,000. World Investment Advisors LLC bought a new stake in SITE Centers during the third quarter valued at $622,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the fourth quarter worth $163,000. Institutional investors own 88.70% of the company's stock.

Wall Street Analysts Forecast Growth

SITC has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Piper Sandler decreased their target price on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $35.25.

SITE Centers Stock Performance

SITC stock traded down $0.08 on Friday, reaching $11.84. The company's stock had a trading volume of 56,351 shares, compared to its average volume of 895,044. The firm has a fifty day moving average of $12.72 and a two-hundred day moving average of $14.67. 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 company has a market capitalization of $620.77 million, a P/E ratio of 0.87 and a beta of 1.30. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $43.58 million. As a group, analysts predict that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

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.