Conversant Capital LLC Has $4.89 Million Position in SITE Centers Corp. (NYSE:SITC)

Conversant Capital LLC decreased its position in shares of SITE Centers Corp. (NYSE:SITC - Free Report) by 44.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 320,000 shares of the company's stock after selling 252,500 shares during the quarter. SITE Centers comprises about 0.7% of Conversant Capital LLC's investment portfolio, making the stock its 11th largest holding. Conversant Capital LLC owned about 0.61% of SITE Centers worth $4,893,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. KBC Group NV grew its stake in shares of SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Covestor Ltd lifted its holdings in SITE Centers by 483.2% in the fourth quarter. Covestor Ltd now owns 3,756 shares of the company's stock worth $57,000 after purchasing an additional 3,112 shares during the period. Van ECK Associates Corp lifted its holdings in SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company's stock worth $138,000 after purchasing an additional 833 shares during the period. KLP Kapitalforvaltning AS bought a new position in SITE Centers in the 4th quarter valued at about $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in SITE Centers during the 4th quarter valued at about $163,000. Institutional investors own 88.70% of the company's stock.

Analyst Upgrades and Downgrades

SITC has been the subject of several recent analyst reports. StockNews.com cut shares of SITE Centers from a "buy" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler decreased their price target on 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 objective on 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 issued a buy rating to the company. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of "Hold" and a consensus target price of $35.25.

SITE Centers Trading Down 0.2 %

Shares of SITE Centers stock traded down $0.02 on Friday, reaching $12.03. 561,246 shares of the company were exchanged, compared to its average volume of 904,358. SITE Centers Corp. has a fifty-two week low of $10.46 and a fifty-two week high of $64.44. The firm has a market capitalization of $630.91 million, a price-to-earnings ratio of 0.88 and a beta of 1.32. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $12.21 and a 200-day moving average price of $14.28.

SITE Centers (NYSE:SITC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.02). The firm had revenue of $40.35 million for the quarter, compared to analysts' expectations of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. SITE Centers's quarterly revenue was down 66.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. On average, analysts expect that SITE Centers Corp. will post 3.24 EPS for the current year.

About SITE Centers

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.