New York State Teachers Retirement System grew its holdings in SITE Centers Corp. (NASDAQ:SITC) by 335.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,458 shares of the company’s stock after acquiring an additional 44,258 shares during the period. New York State Teachers Retirement System’s holdings in SITE Centers were worth $465,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of SITE Centers by 49.4% in the 4th quarter. Advisors Asset Management Inc. now owns 8,412 shares of the company’s stock valued at $118,000 after acquiring an additional 2,783 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in shares of SITE Centers in the 1st quarter valued at $72,000. M&T Bank Corp purchased a new stake in shares of SITE Centers in the 1st quarter valued at $74,000. Two Sigma Securities LLC purchased a new stake in SITE Centers during the first quarter worth $88,000. Finally, Fifth Third Bancorp boosted its holdings in SITE Centers by 15.6% during the first quarter. Fifth Third Bancorp now owns 16,952 shares of the company’s stock worth $88,000 after buying an additional 2,283 shares in the last quarter.
SITC has been the topic of a number of recent analyst reports. Odeon Capital Group initiated coverage on shares of SITE Centers in a report on Wednesday, April 8th. They set a “buy” rating and a $10.00 price target on the stock. Deutsche Bank lowered their price target on shares of SITE Centers from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, June 5th. SunTrust Banks increased their price target on shares of SITE Centers from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Monday, June 15th. BidaskClub raised shares of SITE Centers from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Morgan Stanley increased their price target on shares of SITE Centers from $4.50 to $5.75 and gave the stock an “equal weight” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. SITE Centers currently has an average rating of “Hold” and an average price target of $10.65.
SITC opened at $7.33 on Friday. SITE Centers Corp. has a 52-week low of $3.60 and a 52-week high of $15.85. The firm’s fifty day simple moving average is $7.54 and its two-hundred day simple moving average is $8.34.
SITE Centers (NASDAQ:SITC) last issued its earnings results on Tuesday, July 28th. The company reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.25). The firm had revenue of $98.10 million for the quarter, compared to analyst estimates of $98.65 million. The firm’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS.
In other SITE Centers news, Director Dawn M. Sweeney bought 20,000 shares of SITE Centers stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $5.49 per share, for a total transaction of $109,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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