Amundi Increases Position in SITE Centers Corp. (NYSE:SITC)

Amundi lifted its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 44.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,206 shares of the company’s stock after acquiring an additional 15,227 shares during the quarter. Amundi owned 0.09% of SITE Centers worth $736,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Assetmark Inc. increased its position in shares of SITE Centers by 287.1% during the fourth quarter. Assetmark Inc. now owns 89,705 shares of the company’s stock worth $1,372,000 after acquiring an additional 66,529 shares during the last quarter. Factorial Partners LLC purchased a new stake in shares of SITE Centers during the fourth quarter worth about $1,682,000. Illinois Municipal Retirement Fund increased its position in shares of SITE Centers by 3.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 25,206 shares of the company’s stock worth $385,000 after acquiring an additional 730 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of SITE Centers by 34.5% during the fourth quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock worth $9,402,000 after acquiring an additional 157,818 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of SITE Centers during the fourth quarter worth about $519,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SITC. Citigroup reduced their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Wells Fargo & Company reduced their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler reduced their price target on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.61.

SITE Centers Price Performance

Shares of NYSE:SITC opened at $12.86 on Thursday. 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 Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44. The firm has a 50-day simple moving average of $14.43 and a 200 day simple moving average of $21.76. The company has a market cap of $673.99 million, a PE ratio of 0.94 and a beta of 1.63.

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

Insider Activity at SITE Centers

In related 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 filing with the SEC, which can be accessed through this link. 10.10% of the stock is currently owned by insiders.

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.