Maryland State Retirement & Pension System Lowers Stock Position in Site Centers Corp. $SITC

Maryland State Retirement & Pension System lowered its position in shares of Site Centers Corp. (NYSE:SITC) by 11.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,166 shares of the company’s stock after selling 1,755 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Site Centers were worth $182,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SITC. Rush Island Management LP grew its stake in 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 buying an additional 976,110 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Site Centers by 161.2% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 898,691 shares of the company’s stock worth $13,741,000 after purchasing an additional 554,654 shares during the period. Northern Trust Corp increased its holdings in Site Centers by 27.2% in the 4th quarter. Northern Trust Corp now owns 800,692 shares of the company’s stock valued at $12,243,000 after purchasing an additional 171,246 shares in the last quarter. Man Group plc lifted its stake in shares of Site Centers by 1,126.0% during the fourth quarter. Man Group plc now owns 771,623 shares of the company’s stock worth $11,798,000 after purchasing an additional 708,685 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Site Centers by 100.6% in the first quarter. Brown Advisory Inc. now owns 759,033 shares of the company’s stock worth $9,746,000 after buying an additional 380,711 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Site Centers from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Piper Sandler restated an “overweight” rating on shares of Site Centers in a research note on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Site Centers currently has an average rating of “Hold” and an average target price of $35.25.

Site Centers Stock Up 3.2%

Shares of Site Centers stock opened at $11.9950 on Wednesday. The stock has a market capitalization of $629.08 million, a price-to-earnings ratio of 1.77 and a beta of 1.36. The business’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $12.33. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. Site Centers Corp. has a twelve month low of $10.45 and a twelve month high of $30.99.

Site Centers (NYSE:SITC) last posted its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $30.66 million for the quarter, compared to analysts’ expectations of $33.10 million. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.The firm’s quarterly revenue was down 63.8% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. Equities research analysts forecast that Site Centers Corp. will post 3.24 earnings per share for the current year.

Site Centers Announces Dividend

The firm also recently declared a special dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $1.50 dividend. Site Centers’s payout ratio is 7.69%.

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.