Fisher Asset Management LLC Has $18 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Fisher Asset Management LLC lessened its stake in SITE Centers Corp. (NYSE:SITC) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,320,543 shares of the company’s stock after selling 376,849 shares during the quarter. Fisher Asset Management LLC owned about 0.63% of SITE Centers worth $17,999,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SITC. GAMMA Investing LLC acquired a new stake in shares of SITE Centers during the 4th quarter worth approximately $30,000. Lindbrook Capital LLC boosted its holdings in shares of SITE Centers by 30.4% in the 4th quarter. Lindbrook Capital LLC now owns 5,219 shares of the company’s stock valued at $71,000 after purchasing an additional 1,218 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of SITE Centers by 6.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 12,770 shares of the company’s stock worth $159,000 after buying an additional 828 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of SITE Centers during the 4th quarter worth $159,000. Finally, Park Avenue Securities LLC acquired a new stake in SITE Centers in the third quarter valued at about $180,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Up 0.8 %

Shares of SITC opened at $13.97 on Monday. The company has a market capitalization of $2.93 billion, a PE ratio of 13.70 and a beta of 1.60. The stock’s 50-day moving average price is $13.94 and its two-hundred day moving average price is $13.54. The company has a current ratio of 3.54, a quick ratio of 3.24 and a debt-to-equity ratio of 0.80. SITE Centers Corp. has a 12 month low of $10.88 and a 12 month high of $14.71.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a return on equity of 11.83% and a net margin of 43.36%. The company had revenue of $123.20 million for the quarter, compared to analyst estimates of $127.81 million. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. On average, analysts anticipate that SITE Centers Corp. will post 0.91 EPS for the current year.

SITE Centers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Wednesday, March 13th. SITE Centers’s dividend payout ratio (DPR) is presently 50.98%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reissued an “overweight” rating and issued a $15.50 target price on shares of SITE Centers in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.25.

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.