Conversant Capital LLC Lowers Stock Position in SITE Centers Corp. (NYSE:SITC)

Conversant Capital LLC decreased its stake in SITE Centers Corp. (NYSE:SITC - Free Report) by 44.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,000 shares of the company's stock after selling 252,500 shares during the period. SITE Centers accounts for about 0.7% of Conversant Capital LLC's holdings, making the stock its 11th biggest position. Conversant Capital LLC owned about 0.61% of SITE Centers worth $4,893,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new stake in shares of SITE Centers in the 4th quarter worth approximately $606,000. SG Americas Securities LLC lifted its holdings in shares of SITE Centers by 72.4% in the 4th quarter. SG Americas Securities LLC now owns 28,130 shares of the company's stock worth $430,000 after acquiring an additional 11,812 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of SITE Centers by 33,478.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 18,804 shares of the company's stock worth $288,000 after acquiring an additional 18,748 shares during the last quarter. KBC Group NV lifted its holdings in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company's stock worth $53,000 after acquiring an additional 2,193 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in SITE Centers during the 4th quarter valued at $34,297,000. Institutional investors own 88.70% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SITC. Piper Sandler decreased their price target 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. StockNews.com cut shares of SITE Centers from a "buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on SITE Centers from $17.00 to $14.50 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $35.25.

SITE Centers Trading Up 5.4%

SITC stock traded up $0.65 during midday trading on Monday, reaching $12.70. The company's stock had a trading volume of 141,416 shares, compared to its average volume of 903,350. The firm has a market capitalization of $666.00 million, a price-to-earnings ratio of 0.93 and a beta of 1.32. 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 Corp. has a 1 year low of $10.46 and a 1 year high of $64.44. The stock has a fifty day simple moving average of $12.21 and a two-hundred day simple moving average of $14.24.

SITE Centers (NYSE:SITC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $33.50 million. During the same period in the prior year, the business posted $0.28 EPS. SITE Centers's revenue was down 66.6% compared to the same quarter last year. On average, equities research analysts predict 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.