Oppenheimer Asset Management Inc. Increases Position in SITE Centers Corp. (NASDAQ:SITC)

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Oppenheimer Asset Management Inc. boosted its holdings in shares of SITE Centers Corp. (NASDAQ:SITC) by 13.4% in the 3rd quarter, Holdings Channel reports. The fund owned 44,316 shares of the company’s stock after acquiring an additional 5,220 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in SITE Centers were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. grew its stake in SITE Centers by 37.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,296 shares of the company’s stock valued at $43,000 after acquiring an additional 896 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in SITE Centers by 3.5% during the 2nd quarter. Pictet Asset Management Ltd. now owns 26,400 shares of the company’s stock valued at $350,000 after acquiring an additional 900 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in SITE Centers by 10.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,046 shares of the company’s stock valued at $318,000 after acquiring an additional 2,358 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in SITE Centers by 8.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,808 shares of the company’s stock valued at $556,000 after acquiring an additional 2,798 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in SITE Centers by 6.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 71,113 shares of the company’s stock valued at $939,000 after acquiring an additional 4,278 shares in the last quarter.

Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of SITE Centers from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Tuesday, October 1st. Compass Point assumed coverage on shares of SITE Centers in a research note on Thursday, August 15th. They issued a “neutral” rating and a $14.00 price target for the company. Finally, Mizuho cut shares of SITE Centers from a “buy” rating to a “neutral” rating and set a $14.00 price target for the company. in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.67.

SITE Centers stock opened at $14.77 on Friday. SITE Centers Corp. has a 1-year low of $10.71 and a 1-year high of $15.85. The firm has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $13.98.

SITE Centers (NASDAQ:SITC) last released its earnings results on Wednesday, October 30th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.22). The business had revenue of $109.70 million for the quarter, compared to the consensus estimate of $111.73 million. During the same quarter in the previous year, the business posted $0.33 EPS. The firm’s quarterly revenue was down 15.0% compared to the same quarter last year.

SITE Centers Company Profile

SITE is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. 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.

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Institutional Ownership by Quarter for SITE Centers (NASDAQ:SITC)

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