Rush Island Management LP grew its position in SITE Centers Corp. (NYSE:SITC - Free Report) by 161.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,582,301 shares of the company's stock after buying an additional 976,110 shares during the period. SITE Centers accounts for about 1.6% of Rush Island Management LP's portfolio, making the stock its 13th largest position. Rush Island Management LP owned approximately 3.02% of SITE Centers worth $24,193,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Illinois Municipal Retirement Fund boosted its holdings in shares of SITE Centers by 3.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company's stock valued at $385,000 after buying an additional 730 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock valued at $138,000 after buying an additional 833 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of SITE Centers by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company's stock valued at $413,000 after buying an additional 1,011 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of SITE Centers by 1.9% in the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company's stock valued at $974,000 after buying an additional 1,195 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of SITE Centers by 5.5% in the 4th quarter. MetLife Investment Management LLC now owns 30,425 shares of the company's stock valued at $465,000 after buying an additional 1,598 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
SITE Centers Stock Performance
Shares of SITE Centers stock traded up $0.01 during midday trading on Monday, hitting $12.51. The company had a trading volume of 406,288 shares, compared to its average volume of 908,682. The stock has a market cap of $656.09 million, a price-to-earnings ratio of 0.92 and a beta of 1.32. 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 company has a fifty day simple moving average of $12.14 and a 200 day simple moving average of $14.09. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44.
SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $40.35 million for the quarter, compared to analysts' expectations of $33.50 million. During the same period in the prior year, the business posted $0.28 earnings per share. The business's quarterly revenue was down 66.6% compared to the same quarter last year. As a group, analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on SITC shares. Piper Sandler lowered their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. StockNews.com lowered shares of SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their price objective on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of "Hold" and an average target price of $35.25.
Check Out Our Latest Research Report on SITC
SITE Centers Company Profile
(
Free Report)
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.
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