SITE Centers Corp. (NYSE:SITC) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lessened its stake in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 20.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,096,930 shares of the company's stock after selling 288,901 shares during the period. Balyasny Asset Management L.P. owned 2.09% of SITE Centers worth $16,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SITC. KBC Group NV lifted its stake in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock valued at $53,000 after buying an additional 2,193 shares in the last quarter. Covestor Ltd raised its position in shares of SITE Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company's stock valued at $57,000 after buying an additional 3,112 shares during the period. Van ECK Associates Corp raised its position in shares of SITE Centers by 10.2% during 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 during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of SITE Centers during the 4th quarter valued at approximately $148,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in shares of SITE Centers during the 4th quarter valued at approximately $163,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITC has been the topic of several analyst reports. Piper Sandler reduced their price target on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. StockNews.com downgraded shares of SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price on shares of 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. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.25.

SITE Centers Stock Performance

NYSE SITC remained flat at $12.60 during mid-day trading on Tuesday. 191,994 shares of the company were exchanged, compared to its average volume of 902,764. SITE Centers Corp. has a 1 year low of $10.46 and a 1 year high of $64.44. The firm's fifty day simple moving average is $12.19 and its two-hundred day simple moving average is $14.21. The firm has a market capitalization of $660.81 million, a PE ratio of 0.92 and a beta of 1.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55.

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 for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The company had revenue of $40.35 million for the quarter, compared to analysts' expectations of $33.50 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business's revenue for the quarter was down 66.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. On average, analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current year.

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.