Balyasny Asset Management L.P. Sells 288,901 Shares of SITE Centers Corp. (NYSE:SITC)

Balyasny Asset Management L.P. trimmed its holdings in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 20.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,096,930 shares of the company's stock after selling 288,901 shares during the period. Balyasny Asset Management L.P. owned about 2.09% of SITE Centers worth $16,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Graham Capital Wealth Management LLC bought a new stake in SITE Centers in the fourth quarter worth about $2,226,000. Advisors Preferred LLC purchased a new stake in shares of SITE Centers during the 4th quarter worth approximately $2,517,000. Geode Capital Management LLC raised its holdings in shares of SITE Centers by 18.4% in the 4th quarter. Geode Capital Management LLC now owns 1,412,163 shares of the company's stock worth $21,595,000 after purchasing an additional 219,636 shares during the period. Amundi lifted its stake in SITE Centers by 44.8% in the fourth quarter. Amundi now owns 49,206 shares of the company's stock valued at $736,000 after purchasing an additional 15,227 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in SITE Centers by 287.1% during the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company's stock valued at $1,372,000 after purchasing an additional 66,529 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SITC. StockNews.com cut SITE Centers from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of SITE Centers from $20.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on shares of SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $35.25.

SITE Centers Price Performance

NYSE SITC traded down $0.02 on Friday, hitting $12.03. The stock had a trading volume of 561,246 shares, compared to its average volume of 906,380. The company has a market capitalization of $630.91 million, a price-to-earnings ratio of 0.88 and a beta of 1.32. SITE Centers Corp. has a 52-week low of $10.46 and a 52-week high of $64.44. The firm has a 50-day moving average of $12.21 and a 200-day moving average of $14.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

SITE Centers (NYSE:SITC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business 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%. SITE Centers's quarterly revenue was down 66.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. Equities analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

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.