Landscape Capital Management L.L.C. Purchases Shares of 5,275 SITE Centers Corp. (NYSE:SITC)

Landscape Capital Management L.L.C. acquired a new position in shares of SITE Centers Corp. (NYSE:SITC) in the 3rd quarter, Holdings Channel reports. The fund acquired 5,275 shares of the company’s stock, valued at approximately $319,000.

Several other large investors have also modified their holdings of the stock. Meeder Asset Management Inc. purchased a new stake in SITE Centers in the third quarter valued at $2,596,000. Quest Partners LLC boosted its position in shares of SITE Centers by 1,046.5% in the 3rd quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock valued at $1,839,000 after purchasing an additional 27,743 shares during the period. GSA Capital Partners LLP purchased a new position in SITE Centers during the 3rd quarter worth approximately $617,000. Los Angeles Capital Management LLC acquired a new position in SITE Centers during the third quarter worth approximately $355,000. Finally, Blue Trust Inc. boosted its holdings in shares of SITE Centers by 508.3% in the third quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock valued at $386,000 after acquiring an additional 5,332 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

SITC has been the subject of several research reports. Morgan Stanley upped their price target 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. Stifel Nicolaus increased their target price on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research note on Thursday, September 19th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Truist Financial increased their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler dropped their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.89.

SITE Centers Trading Down 0.4 %

Shares of SITC stock opened at $16.10 on Monday. The stock has a market cap of $844.12 million, a P/E ratio of 1.18 and a beta of 1.62. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a fifty-two week low of $15.43 and a fifty-two week high of $64.44. The business has a fifty day simple moving average of $26.01 and a 200-day simple moving average of $137.06.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. During the same period last year, the firm posted $1.32 EPS. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. On average, analysts forecast that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

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.