State of New Jersey Common Pension Fund D Cuts Stock Position in SITE Centers Corp. (NYSE:SITC)

State of New Jersey Common Pension Fund D lessened its holdings in SITE Centers Corp. (NYSE:SITC) by 76.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 32,322 shares of the company’s stock after selling 105,100 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of SITE Centers worth $1,955,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Long Pond Capital LP grew its position in shares of SITE Centers by 403.8% during the first quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock valued at $84,885,000 after purchasing an additional 4,644,142 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of SITE Centers by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock valued at $39,426,000 after purchasing an additional 31,529 shares in the last quarter. APG Asset Management US Inc. grew its position in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock valued at $12,996,000 after purchasing an additional 535,550 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of SITE Centers by 6.8% during the second quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after purchasing an additional 56,013 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of SITE Centers by 3,017.5% during the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after purchasing an additional 739,174 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 0.9 %

Shares of NYSE SITC opened at $15.62 on Monday. 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 company has a market cap of $818.96 million, a P/E ratio of 1.14 and a beta of 1.62. SITE Centers Corp. has a 1 year low of $15.52 and a 1 year high of $64.44. The firm has a 50-day simple moving average of $30.23 and a two-hundred day simple moving average of $144.35.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 earnings per share. Research analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

SITC has been the subject of a number of research analyst reports. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Morgan Stanley raised their price objective on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. StockNews.com raised shares of SITE Centers from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Truist Financial increased their price target 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. Finally, Piper Sandler lowered their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.89.

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.