Northern Trust Corp Grows Position in SITE Centers Corp. (NYSE:SITC)

Northern Trust Corp increased its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 800,692 shares of the company's stock after acquiring an additional 171,246 shares during the quarter. Northern Trust Corp owned about 1.53% of SITE Centers worth $12,243,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. KBC Group NV lifted its position 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 in the last quarter. Covestor Ltd lifted its position in SITE Centers by 483.2% during the 4th 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 lifted its position in SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after buying an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in SITE Centers during the 4th quarter valued at about $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in SITE Centers during the 4th quarter valued at about $163,000. Institutional investors own 88.70% of the company's stock.

SITE Centers Trading Down 1.4%

SITC traded down $0.17 during trading on Thursday, hitting $11.76. The company's stock had a trading volume of 345,724 shares, compared to its average volume of 909,998. SITE Centers Corp. has a twelve month low of $10.46 and a twelve month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock's fifty day moving average price is $12.09 and its 200-day moving average price is $14.01. The firm has a market capitalization of $616.49 million, a P/E ratio of 0.86 and a beta of 1.32.

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

Analysts Set New Price Targets

SITC has been the subject of a number of research reports. Wells Fargo & Company lowered 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. Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Finally, Wall Street Zen downgraded SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, SITE Centers has an average rating of "Hold" and an average price target of $35.25.

SITE Centers Company 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.