SITE Centers Corp. (NYSE:SITC) Shares Sold by Strs Ohio

Strs Ohio trimmed its holdings in SITE Centers Corp. (NYSE:SITC) by 36.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 218,383 shares of the company’s stock after selling 123,700 shares during the period. Strs Ohio’s holdings in SITE Centers were worth $2,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SITC. Natixis Advisors L.P. lifted its holdings in SITE Centers by 77.3% in the 1st quarter. Natixis Advisors L.P. now owns 28,476 shares of the company’s stock valued at $476,000 after acquiring an additional 12,416 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in SITE Centers by 56.0% in the 1st quarter. MetLife Investment Management LLC now owns 91,158 shares of the company’s stock valued at $1,523,000 after acquiring an additional 32,714 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in SITE Centers in the 1st quarter valued at about $959,000. Rhumbline Advisers lifted its holdings in SITE Centers by 0.4% in the 1st quarter. Rhumbline Advisers now owns 579,418 shares of the company’s stock valued at $9,682,000 after acquiring an additional 2,238 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in SITE Centers by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 154,777 shares of the company’s stock valued at $2,586,000 after buying an additional 19,084 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Price Performance

SITC stock opened at $13.55 on Friday. The firm has a 50-day moving average of $14.02 and a two-hundred day moving average of $13.38. 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 $2.84 billion, a PE ratio of 11.20 and a beta of 1.58. SITE Centers Corp. has a one year low of $10.88 and a one year high of $14.71.

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

SITE Centers Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were given 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 42.98%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $15.50 price objective on shares of SITE Centers in a research note on Monday, April 1st. Wolfe Research lowered shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and a consensus price target of $14.25.

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.