World Investment Advisors LLC Acquires New Shares in SITE Centers Corp. (NYSE:SITC)

World Investment Advisors LLC purchased a new stake in SITE Centers Corp. (NYSE:SITC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 10,285 shares of the company’s stock, valued at approximately $622,000.

Other hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in SITE Centers in the third quarter worth $2,399,000. Neo Ivy Capital Management bought a new position in SITE Centers in the third quarter worth about $202,000. Vestcor Inc purchased a new position in SITE Centers during the 3rd quarter valued at about $95,000. Jane Street Group LLC increased its holdings in shares of SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock valued at $11,085,000 after acquiring an additional 5,779 shares in the last quarter. Finally, Soros Fund Management LLC bought a new position in SITE Centers in the 3rd quarter valued at approximately $3,025,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

NYSE:SITC opened at $15.49 on Tuesday. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The company has a market cap of $811.88 million, a P/E ratio of 1.13 and a beta of 1.61. The firm’s 50 day moving average is $16.20 and its two-hundred day moving average is $113.35. SITE Centers Corp. has a fifty-two week low of $15.24 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same quarter in the previous year, the company posted $1.32 earnings per share. The firm’s revenue was down 37.5% on a year-over-year basis. Analysts expect that SITE Centers Corp. will post 3.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SITC. StockNews.com assumed coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating on the stock. Compass Point cut their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Stifel Nicolaus raised their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, Citigroup lowered their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.04.

Insider Buying and Selling at SITE Centers

In related news, CEO David R. Lukes sold 168,895 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.10% of the company’s stock.

About SITE Centers

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.