291,057 Shares in Site Centers Corp. $SITC Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new position in shares of Site Centers Corp. (NYSE:SITC) during the 2nd quarter, Holdings Channel.com reports. The firm bought 291,057 shares of the company’s stock, valued at approximately $1,155,000.

Several other institutional investors also recently bought and sold shares of SITC. WealthCollab LLC lifted its position in shares of Site Centers by 950.8% in the first quarter. WealthCollab LLC now owns 5,296 shares of the company’s stock worth $29,000 after buying an additional 4,792 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Site Centers by 4,078.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock worth $43,000 after acquiring an additional 3,671 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Site Centers by 3,546.9% during the 1st quarter. Parallel Advisors LLC now owns 8,242 shares of the company’s stock valued at $45,000 after acquiring an additional 8,016 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Site Centers by 380.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company’s stock valued at $45,000 after acquiring an additional 5,535 shares during the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of Site Centers in the 4th quarter valued at approximately $70,000. 88.70% of the stock is currently owned by institutional investors.

Site Centers Price Performance

SITC stock opened at $2.97 on Tuesday. Site Centers Corp. has a 52-week low of $2.89 and a 52-week high of $12.39. The company has a 50-day moving average of $4.19 and a two-hundred day moving average of $5.18. The stock has a market capitalization of $155.84 million, a price-to-earnings ratio of 1.23 and a beta of 0.99.

Site Centers (NYSE:SITC) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. The company had revenue of $6.85 million for the quarter, compared to the consensus estimate of $8.20 million. Site Centers had a return on equity of 40.56% and a net margin of 219.18%. Equities analysts expect that Site Centers Corp. will post -0.29 EPS for the current fiscal year.

Site Centers Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were paid a dividend of $1.00 per share.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SITC shares. Weiss Ratings restated a “sell (d)” rating on shares of Site Centers in a report on Wednesday, June 24th. Zacks Research upgraded Site Centers to a “hold” rating in a report on Wednesday, July 22nd. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Piper Sandler dropped their price target on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Site Centers currently has a consensus rating of “Reduce” and a consensus target price of $6.75.

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.