Fisher Asset Management LLC Cuts Position in SITE Centers Corp. (NYSE:SITC)

Fisher Asset Management LLC decreased its holdings in SITE Centers Corp. (NYSE:SITC - Free Report) by 22.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,320,543 shares of the company's stock after selling 376,849 shares during the quarter. Fisher Asset Management LLC owned 0.63% of SITE Centers worth $17,999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of SITE Centers during the fourth quarter valued at approximately $30,000. Lindbrook Capital LLC increased its position in SITE Centers by 30.4% during the fourth quarter. Lindbrook Capital LLC now owns 5,219 shares of the company's stock valued at $71,000 after acquiring an additional 1,218 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of SITE Centers during the fourth quarter valued at $159,000. Evergreen Capital Management LLC boosted its stake in shares of SITE Centers by 6.9% during the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company's stock valued at $159,000 after purchasing an additional 828 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in shares of SITE Centers during the third quarter valued at $180,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reissued an "overweight" rating and set a $15.50 target price on shares of SITE Centers in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SITE Centers currently has a consensus rating of "Hold" and a consensus price target of $14.25.

SITE Centers Price Performance

Shares of NYSE:SITC traded up $0.07 during midday trading on Monday, reaching $14.05. 1,120,711 shares of the company's stock traded hands, compared to its average volume of 2,052,594. The company has a fifty day simple moving average of $13.94 and a two-hundred day simple moving average of $13.54. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.54 and a current ratio of 3.54. The company has a market cap of $2.94 billion, a P/E ratio of 13.77 and a beta of 1.60. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.71.

SITE Centers (NYSE:SITC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.66. The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $127.81 million. SITE Centers had a return on equity of 11.83% and a net margin of 43.36%. The firm's revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. Equities analysts predict that SITE Centers Corp. will post 0.91 EPS for the current fiscal year.

SITE Centers Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, March 13th. SITE Centers's dividend payout ratio (DPR) is presently 50.98%.

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.