Geode Capital Management LLC Has $21.60 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Geode Capital Management LLC increased its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 18.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,412,163 shares of the company’s stock after buying an additional 219,636 shares during the quarter. Geode Capital Management LLC owned 2.69% of SITE Centers worth $21,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of SITE Centers during the fourth quarter worth $148,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the fourth quarter worth $163,000. Finally, EntryPoint Capital LLC bought a new stake in SITE Centers in the 4th quarter valued at $231,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SITC shares. Piper Sandler cut their price target on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. StockNews.com downgraded SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price objective on shares of 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.25.

SITE Centers Trading Up 1.8 %

SITE Centers stock opened at $11.86 on Friday. The stock has a 50-day simple moving average of $12.97 and a 200 day simple moving average of $14.81. The stock has a market capitalization of $621.87 million, a P/E ratio of 0.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers Corp. has a 52 week low of $10.46 and a 52 week high of $64.44.

SITE Centers (NYSE:SITC) last posted its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The business had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. Analysts expect that SITE Centers Corp. will post 3.24 earnings per share for the current year.

About SITE Centers

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.