SITE Centers Corp. (NYSE:SITC) Shares Sold by Versor Investments LP

Versor Investments LP decreased its stake in shares of SITE Centers Corp. (NYSE:SITC) by 78.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,050 shares of the company’s stock after selling 18,250 shares during the quarter. Versor Investments LP’s holdings in SITE Centers were worth $306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers in the second quarter valued at about $42,000. Quarry LP grew its position in shares of SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of SITE Centers in the first quarter valued at about $147,000. Diversified Trust Co acquired a new stake in shares of SITE Centers in the second quarter valued at about $152,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of SITE Centers in the second quarter valued at about $167,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Compass Point lowered their price target 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. Truist Financial boosted their target price on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, StockNews.com upgraded shares of SITE Centers from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.89.

SITE Centers Price Performance

SITE Centers stock opened at $15.62 on Monday. SITE Centers Corp. has a 1 year low of $15.52 and a 1 year high of $64.44. The company’s 50 day simple moving average is $30.23 and its 200-day simple moving average is $144.35. The company has a market capitalization of $818.96 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55.

SITE Centers (NYSE:SITC) last announced its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $104.55 million. During the same period in the prior year, the firm earned $1.32 EPS. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. As a group, equities research analysts expect that SITE Centers Corp. will post 2.9 earnings per share for the current year.

SITE Centers Company 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.