10,195 Shares in SITE Centers Corp. (NYSE:SITC) Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in SITE Centers Corp. (NYSE:SITC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,195 shares of the company’s stock, valued at approximately $617,000.

A number of other hedge funds also recently added to or reduced their stakes in SITC. Allspring Global Investments Holdings LLC purchased a new stake in SITE Centers in the second quarter worth about $42,000. Quarry LP lifted its stake in SITE Centers by 503.9% in the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after acquiring an additional 2,857 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in SITE Centers in the first quarter worth about $147,000. Diversified Trust Co purchased a new stake in SITE Centers in the second quarter worth about $152,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of SITE Centers during the second quarter valued at about $167,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on SITC shares. StockNews.com started coverage on shares of SITE Centers in a research report on Monday. They set a “buy” rating for the company. Piper Sandler decreased their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Morgan Stanley increased their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Compass Point decreased their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Stifel Nicolaus increased their price objective on shares of SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.89.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $15.70 on Tuesday. The company has a market cap of $823.15 million, a PE ratio of 1.15 and a beta of 1.62. SITE Centers Corp. has a twelve month low of $15.43 and a twelve month high of $64.44. The company’s 50 day moving average is $29.41 and its 200 day moving average is $142.90. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $5.20. The business had revenue of $89.43 million for the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business’s revenue was down 37.5% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. On average, sell-side analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current year.

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.