9,675 Shares in SITE Centers Corp. (NYSE:SITC) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new stake in shares of SITE Centers Corp. (NYSE:SITC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,675 shares of the company’s stock, valued at approximately $148,000.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in shares of SITE Centers during the fourth quarter valued at approximately $34,297,000. Bank of New York Mellon Corp boosted its stake in SITE Centers by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock valued at $9,402,000 after purchasing an additional 157,818 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of SITE Centers in the 4th quarter worth $5,401,000. Principal Financial Group Inc. increased its holdings in shares of SITE Centers by 4.3% in the 4th quarter. Principal Financial Group Inc. now owns 271,067 shares of the company’s stock worth $4,145,000 after purchasing an additional 11,278 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of SITE Centers by 3.3% in the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock worth $11,085,000 after purchasing an additional 5,779 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SITC. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler lowered their target price on shares of 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, Wells Fargo & Company decreased their price target on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.25.

SITE Centers Price Performance

Shares of SITC opened at $11.66 on Thursday. SITE Centers Corp. has a twelve month low of $10.46 and a twelve month high of $64.44. The company has a 50 day moving average of $13.44 and a two-hundred day moving average of $16.54. 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 company has a market cap of $611.33 million, a price-to-earnings ratio of 0.85 and a beta of 1.30.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 34.20% and a net margin of 164.10%. As a group, analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

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.