SITE Centers Corp. (NYSE:SITC) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in shares of SITE Centers Corp. (NYSE:SITC) by 41.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,775 shares of the company’s stock after selling 33,900 shares during the period. Prudential Financial Inc. owned approximately 0.09% of SITE Centers worth $746,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in SITE Centers during the fourth quarter worth about $34,297,000. Vanguard Group Inc. raised its holdings in shares of SITE Centers by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company’s stock worth $111,556,000 after purchasing an additional 675,190 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in SITE Centers during the fourth quarter valued at approximately $5,401,000. Advisors Preferred LLC bought a new stake in SITE Centers during the fourth quarter worth approximately $2,517,000. Finally, Bank of New York Mellon Corp grew its position in SITE Centers by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock worth $9,402,000 after buying an additional 157,818 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Trading Down 2.4 %

Shares of NYSE:SITC opened at $10.87 on Wednesday. SITE Centers Corp. has a 12-month low of $10.78 and a 12-month high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $569.65 million, a P/E ratio of 0.79 and a beta of 1.30. The firm has a fifty day moving average of $13.58 and a two-hundred day moving average of $16.91.

SITE Centers (NYSE:SITC) last issued its earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. On average, equities analysts expect that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SITC. Wells Fargo & Company cut their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Piper Sandler dropped their price target on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com cut shares of SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.25.

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.