SITE Centers Corp. (NYSE:SITC) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in SITE Centers Corp. (NYSE:SITC) by 79.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,460 shares of the company’s stock after purchasing an additional 9,517 shares during the quarter. BNP Paribas Financial Markets’ holdings in SITE Centers were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its holdings in shares of SITE Centers by 3.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after purchasing an additional 730 shares during the period. Van ECK Associates Corp raised its position in 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 buying an additional 833 shares during the last quarter. MetLife Investment Management LLC raised its position in SITE Centers by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 30,425 shares of the company’s stock worth $465,000 after buying an additional 1,598 shares during the last quarter. KBC Group NV lifted its stake in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after acquiring an additional 2,193 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of SITE Centers by 5.1% in the fourth quarter. Meeder Asset Management Inc. now owns 45,105 shares of the company’s stock valued at $690,000 after acquiring an additional 2,199 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

SITE Centers Trading Down 1.4%

Shares of SITC opened at $11.59 on Tuesday. SITE Centers Corp. has a twelve month low of $10.46 and a twelve month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $607.58 million, a P/E ratio of 0.85 and a beta of 1.32. The firm’s 50-day moving average is $12.04 and its two-hundred day moving average is $13.92.

SITE Centers (NYSE:SITC) last announced 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 firm had revenue of $40.35 million for the quarter, compared to analysts’ expectations of $33.50 million. During the same period last year, the firm earned $0.28 EPS. SITE Centers’s revenue was down 66.6% compared to the same quarter last year. On average, research analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SITC has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of SITE Centers from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company dropped their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, Piper Sandler reduced their price target on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.25.

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.