Charles Schwab Investment Management Inc. Sells 58,094 Shares of SITE Centers Corp. (NYSE:SITC)

Charles Schwab Investment Management Inc. cut its stake in shares of SITE Centers Corp. (NYSE:SITC) by 6.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 833,759 shares of the company’s stock after selling 58,094 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.59% of SITE Centers worth $12,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. bought a new position in SITE Centers in the 4th quarter valued at approximately $34,297,000. Robeco Institutional Asset Management B.V. bought a new position in shares of SITE Centers during the fourth quarter valued at $5,401,000. Advisors Preferred LLC bought a new position in shares of SITE Centers during the fourth quarter valued at $2,517,000. Bank of New York Mellon Corp lifted its holdings 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 purchasing an additional 157,818 shares during the period. Finally, Graham Capital Wealth Management LLC bought a new stake in shares of SITE Centers in the fourth quarter worth $2,226,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

SITE Centers Price Performance

Shares of SITE Centers stock opened at $12.80 on Friday. The business’s 50 day simple moving average is $14.35 and its two-hundred day simple moving average is $21.36. SITE Centers Corp. has a one year low of $12.58 and a one year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The stock has a market capitalization of $670.84 million, a P/E ratio of 0.94 and a beta of 1.63.

SITE Centers (NYSE:SITC) last released its quarterly earnings results 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 company 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%. Analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SITC shares. StockNews.com downgraded shares of SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Citigroup decreased their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Piper Sandler dropped their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company decreased their target price on 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. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.61.

Insider Buying and Selling

In other SITE Centers news, EVP John M. Cattonar sold 8,794 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.10% of the stock is currently owned by company insiders.

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.