Van ECK Associates Corp Acquires 833 Shares of SITE Centers Corp. (NYSE:SITC)

Van ECK Associates Corp boosted its position in SITE Centers Corp. (NYSE:SITC) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,996 shares of the company’s stock after buying an additional 833 shares during the period. Van ECK Associates Corp’s holdings in SITE Centers were worth $138,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV raised its holdings in shares of SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares during the period. Vestcor Inc bought a new position in shares of SITE Centers during the 3rd quarter valued at approximately $95,000. Baader Bank Aktiengesellschaft bought a new position in shares of SITE Centers during the 4th quarter valued at approximately $163,000. Neo Ivy Capital Management bought a new position in shares of SITE Centers during the 3rd quarter valued at approximately $202,000. Finally, Systematic Financial Management LP bought a new position in shares of SITE Centers during the 3rd quarter valued at approximately $203,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Trading Down 0.6 %

Shares of SITC opened at $14.63 on Monday. The firm’s 50-day moving average price is $15.10 and its 200-day moving average price is $36.58. The firm has a market capitalization of $766.79 million, a price-to-earnings ratio of 1.07 and a beta of 1.60. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a 1-year low of $14.47 and a 1-year high of $32.22.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SITC. Citigroup lowered their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Piper Sandler lowered their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. StockNews.com initiated coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company reduced their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.75.

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 can be accessed through the SEC website. Also, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares of the company’s stock, valued at $2,093,163.12. This trade represents a 55.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,457 shares of company stock valued at $2,791,693. Corporate insiders own 10.10% of the company’s stock.

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.