LSV Asset Management Decreases Holdings in SITE Centers Corp. (NYSE:SITC)

LSV Asset Management cut its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 47.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 618,753 shares of the company's stock after selling 565,945 shares during the period. LSV Asset Management owned about 0.30% of SITE Centers worth $8,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of SITE Centers by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company's stock worth $227,812,000 after purchasing an additional 384,823 shares in the last quarter. FMR LLC increased its stake in shares of SITE Centers by 21.6% in the third 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. Northern Trust Corp increased its stake in shares of SITE Centers by 3.5% in the third quarter. Northern Trust Corp now owns 3,267,272 shares of the company's stock worth $40,285,000 after purchasing an additional 111,547 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of SITE Centers by 0.6% in the third quarter. Daiwa Securities Group Inc. now owns 3,030,443 shares of the company's stock worth $37,365,000 after purchasing an additional 17,138 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of SITE Centers by 13.7% in the third quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company's stock worth $14,327,000 after purchasing an additional 140,134 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

SITE Centers Price Performance

NYSE SITC traded down $0.13 on Wednesday, reaching $13.86. The company had a trading volume of 1,287,661 shares, compared to its average volume of 2,039,904. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.71. The stock has a market capitalization of $2.90 billion, a PE ratio of 13.60 and a beta of 1.60. The firm's 50 day moving average price is $13.95 and its 200 day moving average price is $13.57. The company has a quick ratio of 3.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.80.

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

SITE Centers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were paid a $0.13 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.75%. SITE Centers's payout ratio is currently 50.98%.

Wall Street Analyst Weigh In

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