SITE Centers Corp. (NYSE:SITC) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in SITE Centers Corp. (NYSE:SITC) by 34.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 614,919 shares of the company’s stock after buying an additional 157,818 shares during the quarter. Bank of New York Mellon Corp owned 1.17% of SITE Centers worth $9,402,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SITC. KBC Group NV boosted its stake in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares during the period. Vestcor Inc acquired a new stake in shares of SITE Centers during the 3rd quarter valued at $95,000. Van ECK Associates Corp boosted its stake in shares of SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the period. Baader Bank Aktiengesellschaft acquired a new stake in shares of SITE Centers during the 4th quarter valued at $163,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of SITE Centers during the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of SITE Centers stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now owns 29,082 shares of the company’s stock, valued at $451,934.28. This trade represents a 11.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.10% of the company’s stock.

SITE Centers Stock Up 0.4 %

Shares of NYSE:SITC opened at $12.71 on Friday. SITE Centers Corp. has a 52 week low of $12.58 and a 52 week high of $64.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. 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 50 day moving average price of $14.57 and a two-hundred day moving average price of $23.03.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $32.87 million for the quarter, compared to the consensus estimate of $43.58 million. Analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current 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.