Nisa Investment Advisors LLC Has $150,000 Position in Site Centers Corp. (NYSE:SITC)

Nisa Investment Advisors LLC lessened its holdings in Site Centers Corp. (NYSE:SITC) by 12.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,658 shares of the company’s stock after selling 1,693 shares during the period. Nisa Investment Advisors LLC’s holdings in Site Centers were worth $150,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SITC. Invesco Ltd. boosted its stake in Site Centers by 777.4% in the fourth quarter. Invesco Ltd. now owns 2,121,114 shares of the company’s stock valued at $32,432,000 after acquiring an additional 1,879,351 shares during the last quarter. Rush Island Management LP raised its holdings in shares of Site Centers by 161.0% during the fourth quarter. Rush Island Management LP now owns 1,582,301 shares of the company’s stock worth $24,193,000 after acquiring an additional 976,110 shares during the period. Man Group plc increased its stake in Site Centers by 1,126.0% in the 4th quarter. Man Group plc now owns 771,623 shares of the company’s stock valued at $11,798,000 after buying an additional 708,685 shares during the last quarter. AQR Capital Management LLC increased its stake in Site Centers by 3,701.4% in the 4th quarter. AQR Capital Management LLC now owns 727,672 shares of the company’s stock valued at $11,126,000 after buying an additional 708,530 shares during the last quarter. Finally, Vanguard Group Inc. grew its position 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 valued at $111,556,000 after acquiring an additional 675,190 shares during the period. 88.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SITC has been the subject of several research analyst reports. Wells Fargo & Company reduced their target price on shares of Site Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Piper Sandler reiterated an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.25.

Site Centers Stock Up 0.4%

Shares of Site Centers stock opened at $11.25 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $11.94 and its two-hundred day simple moving average is $12.97. The company has a market cap of $589.85 million, a P/E ratio of 1.09 and a beta of 1.31. Site Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44.

Site Centers (NYSE:SITC) last announced its earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. Site Centers had a net margin of 201.78% and a return on equity of 39.38%. The business’s quarterly revenue was down 66.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Research analysts anticipate that Site Centers Corp. will post 3.24 EPS for the current year.

Site Centers Dividend Announcement

The company also recently announced a special dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $1.50 per share.

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.