Segall Bryant & Hamill LLC Buys New Stake in SITE Centers Corp. (NYSE:SITC)

Segall Bryant & Hamill LLC purchased a new stake in SITE Centers Corp. (NYSE:SITC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 84,183 shares of the company’s stock, valued at approximately $1,287,000.

Other large investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after purchasing an additional 53,412 shares during the last quarter. Quantinno Capital Management LP acquired a new position in SITE Centers during the third quarter worth approximately $244,000. Systematic Financial Management LP purchased a new stake in SITE Centers in the third quarter valued at approximately $203,000. Soros Fund Management LLC acquired a new stake in shares of SITE Centers in the third quarter valued at approximately $3,025,000. Finally, Jane Street Group LLC grew its position in shares of SITE Centers by 3.3% during the third quarter. Jane Street Group LLC now owns 183,217 shares of the company’s stock worth $11,085,000 after acquiring an additional 5,779 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Stock Down 1.1 %

SITC opened at $12.64 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a 12 month low of $12.58 and a 12 month high of $64.44. The stock has a market capitalization of $662.45 million, a P/E ratio of 0.92 and a beta of 1.63. The business has a 50 day simple moving average of $14.12 and a 200-day simple moving average of $19.82.

SITE Centers (NYSE:SITC) last released its earnings results on Thursday, February 27th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The business had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. On average, equities analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SITC shares. Citigroup reduced their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Wells Fargo & Company reduced their target price on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday. Piper Sandler lowered their price target on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Eight 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, the stock currently has an average rating of “Hold” and an average price target of $35.25.

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.