SITE Centers Corp. (NASDAQ:SITC) Holdings Cut by Mackay Shields LLC

Mackay Shields LLC lessened its holdings in shares of SITE Centers Corp. (NASDAQ:SITC) by 5.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 287,356 shares of the company’s stock after selling 15,754 shares during the quarter. Mackay Shields LLC’s holdings in SITE Centers were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Heitman Real Estate Securities LLC raised its holdings in shares of SITE Centers by 11.2% during the second quarter. Heitman Real Estate Securities LLC now owns 2,422,407 shares of the company’s stock valued at $32,073,000 after buying an additional 244,888 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of SITE Centers by 63.9% during the third quarter. Russell Investments Group Ltd. now owns 1,874,270 shares of the company’s stock valued at $28,329,000 after buying an additional 731,067 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of SITE Centers by 257.6% during the second quarter. Citadel Advisors LLC now owns 1,677,011 shares of the company’s stock valued at $22,203,000 after buying an additional 1,208,067 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SITE Centers by 12.4% during the second quarter. Bank of New York Mellon Corp now owns 1,665,348 shares of the company’s stock valued at $22,049,000 after buying an additional 183,117 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of SITE Centers by 7.7% during the second quarter. Nuveen Asset Management LLC now owns 1,317,253 shares of the company’s stock valued at $17,441,000 after buying an additional 94,472 shares during the last quarter.

Shares of SITC traded down $0.19 during mid-day trading on Friday, reaching $14.77. 635,100 shares of the company’s stock traded hands, compared to its average volume of 1,054,765. SITE Centers Corp. has a 12 month low of $10.71 and a 12 month high of $15.85. The business’s 50-day moving average price is $15.10 and its 200-day moving average price is $13.98.

SITE Centers (NASDAQ:SITC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.22). The business had revenue of $109.70 million for the quarter, compared to analysts’ expectations of $111.73 million. During the same quarter last year, the firm posted $0.33 EPS. The business’s quarterly revenue was down 15.0% on a year-over-year basis.

A number of equities research analysts have recently weighed in on SITC shares. Compass Point started coverage on SITE Centers in a report on Thursday, August 15th. They set a “neutral” rating and a $14.00 price target on the stock. Mizuho cut SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Friday, September 13th. Finally, Zacks Investment Research raised SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $14.67.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

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Institutional Ownership by Quarter for SITE Centers (NASDAQ:SITC)

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