Lindbrook Capital LLC Has $71,000 Stake in SITE Centers Corp. (NYSE:SITC)

Lindbrook Capital LLC increased its position in SITE Centers Corp. (NYSE:SITC) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,219 shares of the company’s stock after buying an additional 1,218 shares during the period. Lindbrook Capital LLC’s holdings in SITE Centers were worth $71,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in SITE Centers by 36.0% in the third quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock worth $9,635,000 after buying an additional 206,827 shares during the last quarter. Quantbot Technologies LP acquired a new position in SITE Centers during the third quarter valued at approximately $1,178,000. Hsbc Holdings PLC grew its holdings in SITE Centers by 13.7% during the third quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company’s stock valued at $14,327,000 after purchasing an additional 140,134 shares during the last quarter. GSA Capital Partners LLP acquired a new position in SITE Centers during the third quarter valued at approximately $1,197,000. Finally, JPMorgan Chase & Co. grew its holdings in SITE Centers by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company’s stock valued at $227,812,000 after purchasing an additional 384,823 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wolfe Research downgraded SITE Centers from an “outperform” rating to a “peer perform” rating in a report on Friday, January 5th. Wells Fargo & Company reiterated an “overweight” rating and set a $15.50 price target on shares of SITE Centers in a report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and an average target price of $14.25.

SITE Centers Stock Down 0.1 %

Shares of SITC opened at $13.76 on Thursday. The company has a 50-day simple moving average of $14.00 and a 200-day simple moving average of $13.45. The firm has a market capitalization of $2.88 billion, a P/E ratio of 11.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24. SITE Centers Corp. has a 52 week low of $10.88 and a 52 week high of $14.71.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.66. The business had revenue of $123.20 million during the quarter, compared to analyst estimates of $127.81 million. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. On average, equities research analysts expect that SITE Centers Corp. will post 0.94 earnings per share for the current year.

SITE Centers Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Thursday, March 14th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, March 13th. SITE Centers’s dividend payout ratio is currently 42.98%.

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.