Nisa Investment Advisors LLC Sells 7,801 Shares of SITE Centers Corp. (NYSE:SITC)

Nisa Investment Advisors LLC lowered its position in SITE Centers Corp. (NYSE:SITC) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,003 shares of the company’s stock after selling 7,801 shares during the period. Nisa Investment Advisors LLC’s holdings in SITE Centers were worth $1,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of SITE Centers by 3.2% in the second quarter. BlackRock Inc. now owns 31,300,452 shares of the company’s stock valued at $413,792,000 after purchasing an additional 970,444 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SITE Centers by 1.1% in the third quarter. Vanguard Group Inc. now owns 31,084,808 shares of the company’s stock valued at $332,918,000 after purchasing an additional 344,501 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of SITE Centers by 2.1% in 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 in the last quarter. FMR LLC lifted its holdings in shares of SITE Centers by 21.6% in the third quarter. FMR LLC now owns 16,126,938 shares of the company’s stock valued at $198,845,000 after purchasing an additional 2,861,012 shares in the last quarter. Finally, State Street Corp increased its position in shares of SITE Centers by 1.4% during the third quarter. State Street Corp now owns 11,633,959 shares of the company’s stock valued at $126,055,000 after acquiring an additional 163,201 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Performance

NYSE:SITC opened at $13.66 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.24 and a quick ratio of 3.24. The business has a fifty day simple moving average of $14.04 and a two-hundred day simple moving average of $13.38. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.71. The company has a market capitalization of $2.86 billion, a P/E ratio of 11.29 and a beta of 1.58.

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

SITE Centers Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Wednesday, March 13th. SITE Centers’s dividend payout ratio is currently 42.98%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wolfe Research downgraded SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Piper Sandler decreased their price target on SITE Centers from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $15.50 price target on shares of SITE Centers in a research report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.25.

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.