SITE Centers Corp. (NYSE:SITC) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC decreased its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,049 shares of the company's stock after selling 152,970 shares during the period. Peregrine Capital Management LLC owned approximately 0.22% of SITE Centers worth $6,243,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SITC. FMR LLC boosted its stake in SITE Centers by 21.6% in the 3rd quarter. FMR LLC now owns 16,126,938 shares of the company's stock worth $198,845,000 after purchasing an additional 2,861,012 shares in the last quarter. Norges Bank purchased a new position in SITE Centers in the 4th quarter worth about $35,855,000. JPMorgan Chase & Co. raised its position in SITE Centers by 14.1% in the 1st quarter. JPMorgan Chase & Co. now owns 11,031,687 shares of the company's stock worth $135,469,000 after buying an additional 1,361,282 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in SITE Centers in the 1st quarter worth about $16,570,000. Finally, State Street Corp raised its position in SITE Centers by 12.9% in the 1st quarter. State Street Corp now owns 10,803,754 shares of the company's stock worth $181,908,000 after buying an additional 1,234,412 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

SITE Centers Stock Performance

SITC stock traded up $0.14 during midday trading on Thursday, reaching $13.88. 2,236,896 shares of the company's stock traded hands, compared to its average volume of 2,144,018. The stock's 50-day moving average is $14.02 and its 200 day moving average is $13.34. The stock has a market cap of $2.91 billion, a P/E ratio of 11.47 and a beta of 1.58. SITE Centers Corp. has a 52-week low of $10.88 and a 52-week high of $14.71. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.81.

SITE Centers (NYSE:SITC - Get Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.66. The company had revenue of $123.20 million for the quarter, compared to analysts' expectations of $127.81 million. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. SITE Centers's revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. As a group, analysts anticipate that SITE Centers Corp. will post 0.94 EPS for the current year.

SITE Centers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.75%. SITE Centers's dividend payout ratio (DPR) is presently 42.98%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SITC shares. Wells Fargo & Company reissued an "overweight" rating and issued a $15.50 target price on shares of SITE Centers in a research report on Monday, April 1st. Piper Sandler decreased their target price on SITE Centers from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Wednesday, December 20th. Finally, Wolfe Research lowered SITE Centers from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SITE Centers has a consensus rating of "Hold" and an average target price of $14.25.

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.