New York State Teachers Retirement System Has $1.52 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

New York State Teachers Retirement System boosted its stake in SITE Centers Corp. (NYSE:SITC) by 2.3% in the fourth quarter, Holdings Channel reports. The firm owned 111,329 shares of the company’s stock after purchasing an additional 2,499 shares during the quarter. New York State Teachers Retirement System’s holdings in SITE Centers were worth $1,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pensionfund DSM Netherlands acquired a new position in SITE Centers during the fourth quarter valued at approximately $273,000. Public Employees Retirement System of Ohio raised its holdings in shares of SITE Centers by 6.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 261,798 shares of the company’s stock worth $3,228,000 after buying an additional 16,330 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SITE Centers by 4.9% during the 3rd quarter. American Century Companies Inc. now owns 48,528 shares of the company’s stock worth $598,000 after buying an additional 2,286 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in SITE Centers in the third quarter valued at about $303,000. Finally, Creative Planning grew its position in SITE Centers by 2.9% in the third quarter. Creative Planning now owns 45,587 shares of the company’s stock valued at $562,000 after acquiring an additional 1,284 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of research reports. Wells Fargo & Company reissued an “overweight” rating and issued a $15.50 target price on shares of SITE Centers in a report on Monday, April 1st. Wolfe Research downgraded shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Finally, Piper Sandler decreased their target price on shares of SITE Centers from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.25.

SITE Centers Stock Performance

Shares of SITC stock opened at $13.43 on Thursday. The business’s 50-day moving average price is $14.03 and its 200-day moving average price is $13.38. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.71. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.10 and a beta of 1.58.

SITE Centers (NYSE:SITC) last posted its earnings results on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The business had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same period last year, the company earned $0.29 EPS. The firm’s revenue was down 9.7% compared to the same quarter last year. Equities research analysts forecast that SITE Centers Corp. will post 0.94 EPS for the current year.

SITE Centers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.87%. SITE Centers’s dividend payout ratio is 42.98%.

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.