Baader Bank Aktiengesellschaft Purchases New Position in SITE Centers Corp. (NYSE:SITC)

Baader Bank Aktiengesellschaft acquired a new position in shares of SITE Centers Corp. (NYSE:SITC) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,641 shares of the company’s stock, valued at approximately $163,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new position in SITE Centers in the 4th quarter valued at about $34,297,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of SITE Centers in the fourth quarter worth about $5,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in SITE Centers by 19.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after purchasing an additional 53,412 shares during the last quarter. Soros Fund Management LLC acquired a new stake in SITE Centers during the 3rd quarter valued at approximately $3,025,000. Finally, Meeder Asset Management Inc. purchased a new stake in SITE Centers during the 3rd quarter worth approximately $2,596,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SITC. Piper Sandler decreased their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. StockNews.com began coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating for the company. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. Citigroup decreased their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Wells Fargo & Company cut their price objective on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.75.

SITE Centers Stock Down 1.5 %

NYSE:SITC opened at $14.99 on Friday. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $15.31 and a 200-day moving average of $63.71. The firm has a market capitalization of $786.14 million, a PE ratio of 1.10 and a beta of 1.61. SITE Centers Corp. has a 52 week low of $14.55 and a 52 week high of $32.22.

SITE Centers (NYSE:SITC) last issued its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $5.20. The firm had revenue of $89.43 million for the quarter, compared to analyst estimates of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same period last year, the company earned $1.32 earnings per share. Analysts predict that SITE Centers Corp. will post 3.24 EPS for the current year.

Insider Buying and Selling

In related news, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the sale, the chief executive officer now directly owns 136,008 shares in the company, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.22, for a total value of $133,844.68. The disclosure for this sale can be found here. Insiders have sold a total of 181,457 shares of company stock valued at $2,791,693 in the last quarter. Company insiders own 10.10% of the company’s stock.

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.