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 raised its stake in SITE Centers Corp. (NYSE:SITC) by 38.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new position in SITE Centers in the fourth quarter valued at $34,297,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of SITE Centers in the 4th quarter worth about $5,401,000. Advisors Preferred LLC bought a new position in shares of SITE Centers during the 4th quarter valued at about $2,517,000. Bank of New York Mellon Corp raised its holdings in shares of SITE Centers by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock valued at $9,402,000 after buying an additional 157,818 shares in the last quarter. Finally, Graham Capital Wealth Management LLC bought a new stake in SITE Centers in the 4th quarter worth approximately $2,226,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup decreased their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler decreased their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SITE Centers has a consensus rating of “Hold” and a consensus price target of $35.25.

SITE Centers Stock Down 0.7 %

Shares of NYSE:SITC opened at $12.78 on Friday. SITE Centers Corp. has a 1 year low of $12.58 and a 1 year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock’s 50-day moving average is $14.18 and its 200 day moving average is $20.13. The company has a market cap of $669.79 million, a PE ratio of 0.93 and a beta of 1.63.

SITE Centers (NYSE:SITC) last posted its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $43.58 million. Sell-side analysts anticipate that SITE Centers Corp. will post 3.24 EPS 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.