GAMMA Investing LLC Acquires 1,764 Shares of Site Centers Corp. $SITC

GAMMA Investing LLC raised its holdings in shares of Site Centers Corp. (NYSE:SITC) by 275.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,405 shares of the company’s stock after acquiring an additional 1,764 shares during the quarter. GAMMA Investing LLC’s holdings in Site Centers were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in Site Centers during the second quarter valued at about $177,000. Strs Ohio bought a new stake in Site Centers during the first quarter valued at about $114,000. Jane Street Group LLC bought a new stake in Site Centers during the first quarter valued at about $4,023,000. Caxton Associates LLP bought a new stake in Site Centers during the first quarter valued at about $5,037,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Site Centers by 88.5% during the first quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock valued at $9,313,000 after purchasing an additional 340,452 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Site Centers Trading Up 0.2%

SITC opened at $8.81 on Monday. The firm has a market cap of $461.73 million, a P/E ratio of 1.30 and a beta of 1.39. Site Centers Corp. has a 12 month low of $8.57 and a 12 month high of $17.70. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $10.31 and a 200 day moving average of $11.35.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. The company had revenue of $30.66 million during the quarter, compared to analyst estimates of $33.10 million. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.The firm’s revenue was down 63.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. As a group, research analysts forecast 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 Friday, August 29th. Investors of record on Friday, August 15th were given a $3.25 dividend. The ex-dividend date was Tuesday, September 2nd.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. LADENBURG THALM/SH SH assumed coverage on Site Centers in a research report on Tuesday, September 9th. They set a “neutral” rating and a $10.00 price objective for the company. Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a research report on Saturday, September 27th. Finally, Piper Sandler restated an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.30.

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.