Thrivent Financial for Lutherans Has $2.24 Million Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Thrivent Financial for Lutherans trimmed its position in SITE Centers Corp. (NYSE:SITC) by 75.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,025 shares of the company’s stock after selling 112,573 shares during the quarter. Thrivent Financial for Lutherans owned 0.07% of SITE Centers worth $2,240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of SITE Centers by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 52,749 shares of the company’s stock worth $765,000 after purchasing an additional 976 shares in the last quarter. Vanderbilt University grew its holdings in shares of SITE Centers by 10.0% during the 2nd quarter. Vanderbilt University now owns 12,378 shares of the company’s stock worth $179,000 after purchasing an additional 1,126 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of SITE Centers by 1.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 90,700 shares of the company’s stock worth $1,315,000 after buying an additional 1,500 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of SITE Centers by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after buying an additional 1,723 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of SITE Centers by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock worth $1,510,000 after buying an additional 1,751 shares during the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

SITE Centers Stock Down 1.3 %

Shares of NYSE:SITC opened at $15.63 on Thursday. The business’s 50 day moving average is $23.40 and its 200 day moving average is $133.31. The stock has a market cap of $819.48 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. SITE Centers Corp. has a 12-month low of $15.43 and a 12-month 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.

SITE Centers (NYSE:SITC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to analysts’ expectations of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm’s quarterly revenue was down 37.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. On average, sell-side analysts forecast that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Truist Financial upped their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Finally, Evercore ISI upgraded SITE Centers to a “hold” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.89.

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.