Site Centers Corp. (NYSE:SITC) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in Site Centers Corp. (NYSE:SITC) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 619,273 shares of the company’s stock after buying an additional 4,354 shares during the period. Bank of New York Mellon Corp owned approximately 1.18% of Site Centers worth $7,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SITC. Covestor Ltd raised its stake 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 buying an additional 3,112 shares during the last quarter. GAMMA Investing LLC grew its holdings in Site Centers by 1,223.2% in the 1st quarter. GAMMA Investing LLC now owns 8,230 shares of the company’s stock valued at $106,000 after buying an additional 7,608 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Site Centers in the 4th quarter valued at about $148,000. Rangeley Capital LLC purchased a new stake in shares of Site Centers during the 4th quarter worth about $186,000. Finally, Aristides Capital LLC purchased a new stake in shares of Site Centers during the 4th quarter worth about $205,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Site Centers Stock Up 1.5%

Shares of SITC stock opened at $11.20 on Wednesday. The company has a market capitalization of $587.12 million, a price-to-earnings ratio of 1.08 and a beta of 1.31. The stock’s 50 day simple moving average is $11.92 and its 200 day simple moving average is $12.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. Site Centers Corp. has a twelve month low of $10.46 and a twelve month high of $64.44.

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

Site Centers Dividend Announcement

The business also recently declared a special dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $1.50 dividend. Site Centers’s dividend payout ratio is 5.04%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their price target on Site Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.