Segall Bryant & Hamill LLC Acquires New Position in SITE Centers Corp. (NYSE:SITC)

Segall Bryant & Hamill LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 84,183 shares of the company’s stock, valued at approximately $1,287,000. Segall Bryant & Hamill LLC owned 0.16% of SITE Centers at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of SITE Centers by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company’s stock valued at $111,556,000 after purchasing an additional 675,190 shares during the last quarter. Pacer Advisors Inc. acquired a new position in SITE Centers in the fourth quarter valued at about $34,297,000. Bank of New York Mellon Corp lifted its position in SITE Centers by 34.5% in the fourth quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock valued at $9,402,000 after buying an additional 157,818 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in SITE Centers during the fourth quarter worth about $5,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SITE Centers by 19.7% during 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 acquiring an additional 53,412 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SITC shares. Wells Fargo & Company lowered their price objective on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler dropped their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, Citigroup decreased their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $35.25.

SITE Centers Stock Down 1.1 %

Shares of NYSE:SITC opened at $12.64 on Friday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The stock has a market cap of $662.45 million, a price-to-earnings ratio of 0.92 and a beta of 1.63. The firm’s 50 day moving average price is $14.12 and its 200 day moving average price is $19.82.

SITE Centers (NYSE:SITC) last issued its earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. As a group, equities research analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

SITE Centers 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.