Allianz Asset Management GmbH Sells 49,817 Shares of Site Centers Corp. $SITC

Allianz Asset Management GmbH lowered its holdings in shares of Site Centers Corp. (NYSE:SITC) by 61.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,792 shares of the company’s stock after selling 49,817 shares during the quarter. Allianz Asset Management GmbH owned about 0.06% of Site Centers worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SITC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Site Centers by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock worth $362,000 after acquiring an additional 1,185 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Site Centers by 7.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company’s stock valued at $259,000 after acquiring an additional 1,486 shares during the period. American Century Companies Inc. increased its stake in Site Centers by 12.3% in the first quarter. American Century Companies Inc. now owns 13,864 shares of the company’s stock valued at $178,000 after acquiring an additional 1,516 shares during the period. GAMMA Investing LLC increased its stake in Site Centers by 275.2% in the second quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock valued at $27,000 after acquiring an additional 1,764 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Site Centers by 0.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 404,630 shares of the company’s stock valued at $4,576,000 after buying an additional 2,225 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Site Centers Trading Down 2.9%

SITC opened at $8.66 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market cap of $453.87 million, a price-to-earnings ratio of 1.28 and a beta of 1.39. The firm has a 50 day simple moving average of $9.42 and a 200 day simple moving average of $10.93. Site Centers Corp. has a fifty-two week low of $8.42 and a fifty-two week high of $17.14.

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

Site Centers Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, October 31st.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SITC. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Wednesday, October 8th. Piper Sandler set a $12.00 target price on shares of Site Centers and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research report on Tuesday, September 9th. They set a “neutral” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Site Centers presently has an average rating of “Hold” and an average price target of $13.13.

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.