US Bancorp DE Sells 1,691 Shares of SITE Centers Corp. (NYSE:SITC)

US Bancorp DE lessened its position in shares of SITE Centers Corp. (NYSE:SITC) by 75.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 550 shares of the company’s stock after selling 1,691 shares during the period. US Bancorp DE’s holdings in SITE Centers were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in SITE Centers during the second quarter valued at $42,000. Quarry LP boosted its stake in shares of SITE Centers by 503.9% during the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of SITE Centers during the first quarter valued at approximately $147,000. Diversified Trust Co purchased a new stake in shares of SITE Centers in the 2nd quarter worth about $152,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of SITE Centers during the second quarter valued at approximately $167,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SITC. Compass Point decreased their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Evercore ISI raised shares of SITE Centers to a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company cut shares of SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Truist Financial increased their target price on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus lifted their target price on SITE Centers from $65.00 to $65.25 and gave the company a “buy” rating in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.89.

SITE Centers Trading Up 0.5 %

NYSE SITC opened at $15.70 on Tuesday. The stock has a market capitalization of $823.15 million, a P/E ratio of 1.15 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a 12 month low of $15.43 and a 12 month high of $64.44. The firm’s 50-day moving average is $29.41 and its two-hundred day moving average is $142.90.

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

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.