SITE Centers Corp. (NYSE:SITC) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its position in shares of SITE Centers Corp. (NYSE:SITC) by 80.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,773 shares of the company’s stock after selling 19,730 shares during the period. Y Intercept Hong Kong Ltd’s holdings in SITE Centers were worth $289,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in SITE Centers during the 2nd quarter worth about $42,000. Quarry LP lifted its position in shares of SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in shares of SITE Centers in the second quarter valued at approximately $167,000. Systematic Financial Management LP purchased a new position in shares of SITE Centers in the third quarter valued at approximately $203,000. Finally, Custom Index Systems LLC purchased a new stake in SITE Centers during the 2nd quarter worth approximately $242,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Stock Performance

Shares of SITC opened at $15.42 on Wednesday. The company has a market capitalization of $808.47 million, a price-to-earnings ratio of 1.13 and a beta of 1.61. SITE Centers Corp. has a 52-week low of $15.24 and a 52-week high of $64.44. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average price of $16.16 and a 200 day moving average price of $111.83.

SITE Centers (NYSE:SITC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $104.55 million. During the same period last year, the business earned $1.32 EPS. SITE Centers’s revenue for the quarter was down 37.5% compared to the same quarter last year. Research analysts predict that SITE Centers Corp. will post 3.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a report on Thursday, September 19th. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Piper Sandler lowered their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley raised their target price on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.04.

Insider Activity

In other news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at $2,093,163.12. The trade was a 55.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 10.10% of the company’s stock.

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.