Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 7,109 Shares of SITE Centers Corp. (NYSE:SITC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in SITE Centers Corp. (NYSE:SITC) by 38.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,431 shares of the company’s stock after buying an additional 7,109 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in SITE Centers were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Vestcor Inc purchased a new position in SITE Centers in the third quarter worth about $95,000. Neo Ivy Capital Management purchased a new position in SITE Centers in the 3rd quarter worth approximately $202,000. Systematic Financial Management LP purchased a new stake in SITE Centers during the 3rd quarter valued at $203,000. KBC Group NV increased its holdings in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of SITE Centers in the third quarter worth $244,000. 88.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SITC. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup reduced their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler lowered their price objective on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their target price 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. Eight equities 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, the stock currently has an average rating of “Hold” and an average target price of $35.25.

SITE Centers Stock Performance

Shares of NYSE SITC opened at $12.78 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. SITE Centers Corp. has a 12-month low of $12.58 and a 12-month high of $64.44. The firm has a market capitalization of $669.79 million, a price-to-earnings ratio of 0.93 and a beta of 1.63. The firm has a 50 day moving average of $14.18 and a 200 day moving average of $20.13.

SITE Centers (NYSE:SITC) last announced 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 company had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, research analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current 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.