Renaissance Technologies LLC Purchases 76,677 Shares of SITE Centers Corp. (NYSE:SITC)

Renaissance Technologies LLC grew its position in SITE Centers Corp. (NYSE:SITC) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 505,236 shares of the company’s stock after acquiring an additional 76,677 shares during the period. Renaissance Technologies LLC owned 0.96% of SITE Centers worth $7,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. KBC Group NV boosted its stake 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 purchasing an additional 2,193 shares in the last quarter. Van ECK Associates Corp lifted its position in SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after buying an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in SITE Centers during the 4th quarter worth about $148,000. Baader Bank Aktiengesellschaft acquired a new stake in SITE Centers in the 4th quarter valued at about $163,000. Finally, Rangeley Capital LLC bought a new position in shares of SITE Centers in the fourth quarter worth about $186,000. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Performance

NYSE SITC opened at $11.86 on Friday. 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 fifty day simple moving average of $12.97 and a 200 day simple moving average of $14.81. The company has a market cap of $621.87 million, a P/E ratio of 0.87 and a beta of 1.30. SITE Centers Corp. has a 12-month low of $10.46 and a 12-month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share 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 company had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. Sell-side analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SITC shares. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Piper Sandler lowered their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their target price 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, March 26th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.