BNP Paribas Financial Markets Trims Position in SITE Centers Corp. (NYSE:SITC)

BNP Paribas Financial Markets decreased its position in shares of SITE Centers Corp. (NYSE:SITC) by 76.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,943 shares of the company’s stock after selling 37,951 shares during the quarter. BNP Paribas Financial Markets’ holdings in SITE Centers were worth $723,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Landscape Capital Management L.L.C. bought a new stake in shares of SITE Centers during the third quarter valued at approximately $319,000. Meeder Asset Management Inc. bought a new position in shares of SITE Centers during the 3rd quarter valued at about $2,596,000. Quest Partners LLC grew its position in shares of SITE Centers by 1,046.5% during the third quarter. Quest Partners LLC now owns 30,394 shares of the company’s stock valued at $1,839,000 after purchasing an additional 27,743 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of SITE Centers during the third quarter valued at about $617,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of SITE Centers during the third quarter valued at about $355,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Up 1.2 %

NYSE:SITC opened at $15.58 on Friday. The company has a market cap of $816.60 million, a price-to-earnings ratio of 1.14 and a beta of 1.61. SITE Centers Corp. has a twelve month low of $15.24 and a twelve month high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $16.27 and a 200-day simple moving average of $117.84.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The company had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. During the same quarter last year, the business posted $1.32 EPS. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. Analysts anticipate that SITE Centers Corp. will post 2.9 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on SITC. StockNews.com initiated coverage on shares of SITE Centers in a research report on Wednesday, December 4th. They set a “hold” rating for the company. Wells Fargo & Company lowered SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Morgan Stanley upped their price objective on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Truist Financial raised their price objective on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Finally, KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.04.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the sale, the chief executive officer now owns 136,008 shares of the company’s stock, valued at approximately $2,093,163.12. This trade represents a 55.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.10% of the company’s stock.

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.