Frontier Capital Management Co. LLC Has $11.27 Million Holdings in SITE Centers Corp. (NYSE:SITC)

Frontier Capital Management Co. LLC decreased its holdings in SITE Centers Corp. (NYSE:SITC) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 736,920 shares of the company’s stock after selling 5,750 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in SITE Centers were worth $11,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SITC. KBC Group NV lifted its position in SITE Centers by 170.4% during 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 during the last quarter. Covestor Ltd boosted its stake in SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares during the period. Van ECK Associates Corp grew its holdings in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in SITE Centers during the 4th quarter worth $148,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the fourth quarter worth $163,000. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Performance

Shares of SITE Centers stock opened at $12.03 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 market cap of $630.91 million, a PE ratio of 0.88 and a beta of 1.32. The company has a 50 day moving average of $12.21 and a 200-day moving average of $14.28. SITE Centers Corp. has a 1-year low of $10.46 and a 1-year high of $64.44.

SITE Centers (NYSE:SITC) last released its earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The business had revenue of $40.35 million for the quarter, compared to the consensus estimate of $33.50 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was down 66.6% on a year-over-year basis. As a group, equities research analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently 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, March 26th. StockNews.com cut shares of SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Piper Sandler cut their price target on SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.25.

About SITE Centers

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.