Natixis Advisors LLC Sells 4,260 Shares of SITE Centers Corp. (NYSE:SITC)

Natixis Advisors LLC lessened its holdings in SITE Centers Corp. (NYSE:SITC) by 21.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,443 shares of the company’s stock after selling 4,260 shares during the period. Natixis Advisors LLC’s holdings in SITE Centers were worth $236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SITC. Graham Capital Wealth Management LLC bought a new position in shares of SITE Centers during the 4th quarter valued at approximately $2,226,000. Advisors Preferred LLC bought a new stake in shares of SITE Centers in the 4th quarter valued at about $2,517,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after acquiring an additional 53,412 shares during the period. Assetmark Inc. lifted 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 valued at $1,372,000 after buying an additional 66,529 shares during the last quarter. Finally, Amundi increased its position in shares of SITE Centers by 44.8% during the fourth quarter. Amundi now owns 49,206 shares of the company’s stock worth $736,000 after purchasing an additional 15,227 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Stock Performance

Shares of SITE Centers stock opened at $12.64 on Friday. SITE Centers Corp. has a one year low of $12.58 and a one year high of $64.44. The business has a 50-day simple moving average of $14.12 and a 200-day simple moving average of $19.82. 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 cap of $662.45 million, a PE ratio of 0.92 and a beta of 1.63.

SITE Centers (NYSE:SITC) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.16 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 analyst estimates of $43.58 million. On average, equities research analysts forecast that SITE Centers Corp. will post 3.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SITC shares. Piper Sandler cut 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 note on Friday, February 28th. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price objective on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Citigroup lowered their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, SITE Centers has a consensus rating of “Hold” and an average price target of $35.25.

SITE Centers Company 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.