Nuveen LLC Purchases Shares of 495,315 Site Centers Corp. $SITC

Nuveen LLC purchased a new stake in Site Centers Corp. (NYSE:SITC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 495,315 shares of the company’s stock, valued at approximately $6,360,000. Nuveen LLC owned 0.94% of Site Centers at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Site Centers by 3.9% in the 1st quarter. Invesco Ltd. now owns 2,203,583 shares of the company’s stock valued at $28,294,000 after purchasing an additional 82,469 shares during the period. Rush Island Management LP lifted its holdings in shares of Site Centers by 161.0% during the 4th 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. Schonfeld Strategic Advisors LLC lifted its holdings in shares of 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 acquiring an additional 554,654 shares during the period. Northern Trust Corp lifted its holdings in shares of Site Centers by 27.2% during the 4th quarter. Northern Trust Corp now owns 800,692 shares of the company’s stock worth $12,243,000 after acquiring an additional 171,246 shares during the period. Finally, Man Group plc lifted its holdings in shares of Site Centers by 1,126.0% during the 4th quarter. Man Group plc now owns 771,623 shares of the company’s stock worth $11,798,000 after acquiring an additional 708,685 shares during the period. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SITC has been the subject of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Site Centers in a report on Tuesday, July 8th. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Site Centers currently has an average rating of “Hold” and a consensus price target of $35.25.

Site Centers Trading Down 1.3%

Shares of SITC stock opened at $12.0460 on Tuesday. Site Centers Corp. has a 12-month low of $10.45 and a 12-month high of $30.87. The company has a market capitalization of $631.75 million, a P/E ratio of 1.78 and a beta of 1.36. The firm has a 50-day moving average price of $11.60 and a 200 day moving average price of $12.23. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.59.

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

Site Centers Announces Dividend

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