Jennison Associates LLC Has $1.88 Million Holdings in Site Centers Corp. $SITC

Jennison Associates LLC increased its stake in shares of Site Centers Corp. (NYSE:SITC) by 71.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 293,532 shares of the company’s stock after acquiring an additional 122,609 shares during the period. Jennison Associates LLC owned 0.56% of Site Centers worth $1,884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SITC. Royal Bank of Canada increased its holdings in shares of Site Centers by 11.5% during the 1st quarter. Royal Bank of Canada now owns 139,626 shares of the company’s stock valued at $1,793,000 after acquiring an additional 14,395 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Site Centers by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,217 shares of the company’s stock valued at $362,000 after acquiring an additional 1,185 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Site Centers by 88.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 725,279 shares of the company’s stock valued at $9,313,000 after acquiring an additional 340,452 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Site Centers during the 1st quarter valued at about $4,023,000. Finally, Strs Ohio acquired a new position in shares of Site Centers during the 1st quarter valued at about $114,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Site Centers Stock Down 0.1%

Shares of NYSE:SITC opened at $5.56 on Monday. The business has a 50 day moving average price of $5.70 and a 200 day moving average price of $6.51. Site Centers Corp. has a twelve month low of $5.24 and a twelve month high of $13.10. The company has a market cap of $291.42 million, a price-to-earnings ratio of 1.65 and a beta of 1.01.

Site Centers (NYSE:SITC) last announced its quarterly earnings data on Thursday, February 26th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $2.79. Site Centers had a return on equity of 43.13% and a net margin of 156.72%.The company had revenue of $17.51 million during the quarter, compared to the consensus estimate of $22.39 million.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SITC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Site Centers in a report on Friday, March 27th. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Piper Sandler increased their price objective on Site Centers from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Site Centers has an average rating of “Reduce” and a consensus target price of $8.00.

Site Centers Profile

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.