Nomura Asset Management Co. Ltd. Grows Stake in SITE Centers Corp. (NYSE:SITC)

Nomura Asset Management Co. Ltd. lifted its stake in SITE Centers Corp. (NYSE:SITC) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,950 shares of the company’s stock after purchasing an additional 3,625 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SITE Centers were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund raised its holdings in SITE Centers by 3.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after buying an additional 730 shares during the last quarter. Van ECK Associates Corp increased its position in shares of SITE Centers by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after acquiring an additional 833 shares in the last quarter. Vestcor Inc purchased a new position in SITE Centers in the 3rd quarter worth approximately $95,000. KBC Group NV lifted its position in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after acquiring an additional 2,193 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in SITE Centers during the 3rd quarter valued at $202,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

Shares of NYSE SITC opened at $12.88 on Thursday. SITE Centers Corp. has a 12-month low of $12.47 and a 12-month high of $64.44. The firm has a market capitalization of $675.30 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a 50 day moving average of $13.97 and a 200 day moving average of $18.59.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SITC. Citigroup decreased their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com cut shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler reduced their price target on shares of 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, Wells Fargo & Company lowered their price objective on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, SITE Centers presently has an average rating of “Hold” and a consensus target price of $35.25.

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.