Nomura Asset Management Co. Ltd. Increases Stock Position in SITE Centers Corp. (NYSE:SITC)

Nomura Asset Management Co. Ltd. grew its stake in SITE Centers Corp. (NYSE:SITC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,950 shares of the company’s stock after buying an additional 3,625 shares during the period. Nomura Asset Management Co. Ltd. owned approximately 0.12% of SITE Centers worth $963,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SITC. KBC Group NV grew its position in SITE Centers by 170.4% in the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after acquiring an additional 2,193 shares in the last quarter. Vestcor Inc purchased a new position in shares of SITE Centers in the 3rd quarter worth about $95,000. Van ECK Associates Corp increased its position in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after purchasing an additional 833 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of SITE Centers during the 4th quarter valued at about $148,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in SITE Centers in the 4th quarter worth approximately $163,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Price Performance

SITC opened at $12.88 on Thursday. 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 company has a market cap of $675.30 million, a price-to-earnings ratio of 0.94 and a beta of 1.63. The stock has a fifty day simple moving average of $13.97 and a two-hundred day simple moving average of $18.59. SITE Centers Corp. has a 12-month low of $12.47 and a 12-month high of $64.44.

SITE Centers (NYSE:SITC) last issued its quarterly 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 return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. Research analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on SITC shares. Citigroup decreased their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock 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 report on Wednesday, March 5th. Wells Fargo & Company decreased their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, Piper Sandler cut their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.