Millennium Management LLC Has $6.80 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Millennium Management LLC lowered its position in shares of SITE Centers Corp. (NYSE:SITC) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,547 shares of the company’s stock after selling 134,309 shares during the quarter. Millennium Management LLC owned approximately 0.85% of SITE Centers worth $6,797,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. KBC Group NV increased its position 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 worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Covestor Ltd increased its position in shares of SITE Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock worth $57,000 after purchasing an additional 3,112 shares in the last quarter. Van ECK Associates Corp increased its position in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after purchasing an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of SITE Centers during the 4th quarter worth about $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the 4th quarter worth about $163,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Stock Down 1.4%

Shares of NYSE:SITC opened at $11.59 on Tuesday. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44. The company has a 50 day moving average of $12.04 and a 200-day moving average of $13.92. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock has a market cap of $607.58 million, a price-to-earnings ratio of 0.85 and a beta of 1.32.

SITE Centers (NYSE:SITC) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $40.35 million for the quarter, compared to analyst estimates of $33.50 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 66.6% compared to the same quarter last year. On average, sell-side analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of SITE Centers from a “hold” rating to a “sell” rating in a research report on Saturday. Piper Sandler lowered their price objective on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. 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 for the company in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.25.

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.