Vestcor Inc Increases Stake in SITE Centers Corp. (NYSE:SITC)

Vestcor Inc increased its holdings in SITE Centers Corp. (NYSE:SITC) by 2,850.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,231 shares of the company’s stock after purchasing an additional 44,664 shares during the period. Vestcor Inc owned approximately 0.09% of SITE Centers worth $707,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new stake in SITE Centers during the 3rd quarter valued at $202,000. Systematic Financial Management LP bought a new stake in SITE Centers during the 3rd quarter valued at $203,000. KBC Group NV raised its holdings in SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares during the last quarter. Quantinno Capital Management LP bought a new stake in SITE Centers during the 3rd quarter valued at $244,000. Finally, Landscape Capital Management L.L.C. bought a new stake in SITE Centers during the 3rd quarter valued at $319,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Insider Transactions at SITE Centers

In related news, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 10.10% of the company’s stock.

Analyst Ratings Changes

SITC has been the subject of a number of recent analyst reports. Piper Sandler lowered their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Citigroup lowered their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Finally, StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.61.

SITE Centers Stock Up 0.4 %

NYSE:SITC opened at $12.71 on Monday. The firm’s 50-day moving average price is $14.57 and its 200-day moving average price is $22.49. The company has a market capitalization of $666.12 million, a PE ratio of 0.93 and a beta of 1.63. 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 1-year low of $12.58 and a 1-year high of $64.44.

SITE Centers (NYSE:SITC) last released its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share 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 analysts’ expectations of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, equities analysts predict that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

SITE Centers 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.