Arizona State Retirement System Has $718,000 Stake in SITE Centers Corp. (NYSE:SITC)

Arizona State Retirement System lowered its stake in SITE Centers Corp. (NYSE:SITC) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,652 shares of the company’s stock after selling 972 shares during the quarter. Arizona State Retirement System’s holdings in SITE Centers were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of SITE Centers by 206.3% during the first quarter. Tower Research Capital LLC TRC now owns 5,845 shares of the company’s stock worth $71,000 after purchasing an additional 3,937 shares during the period. Lazard Asset Management LLC acquired a new position in SITE Centers during the first quarter worth $76,000. First Manhattan Co. bought a new position in shares of SITE Centers in the first quarter valued at $155,000. Evergreen Capital Management LLC grew its holdings in shares of SITE Centers by 6.9% during the third quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock valued at $159,000 after buying an additional 828 shares during the last quarter. Finally, Wexford Capital LP increased its position in shares of SITE Centers by 9.0% during the first quarter. Wexford Capital LP now owns 13,507 shares of the company’s stock worth $166,000 after acquiring an additional 1,116 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Stock Up 0.8 %

SITE Centers stock opened at $13.55 on Friday. SITE Centers Corp. has a fifty-two week low of $10.88 and a fifty-two week high of $14.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24. The firm’s 50-day simple moving average is $14.02 and its 200 day simple moving average is $13.38. The stock has a market cap of $2.84 billion, a PE ratio of 11.20 and a beta of 1.58.

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

SITE Centers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Thursday, March 14th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Wednesday, March 13th. SITE Centers’s dividend payout ratio (DPR) is currently 42.98%.

Analyst Upgrades and Downgrades

SITC has been the topic of several recent research reports. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $15.50 price target on shares of SITE Centers in a research report on Monday, April 1st. Wolfe Research lowered SITE Centers from an “outperform” rating to a “peer perform” rating in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.25.

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.