Schonfeld Strategic Advisors LLC Increases Stock Position in SITE Centers Corp. (NYSE:SITC)

Schonfeld Strategic Advisors LLC raised its stake in shares of SITE Centers Corp. (NYSE:SITC) by 161.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 898,691 shares of the company’s stock after buying an additional 554,654 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in SITE Centers were worth $13,741,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. KBC Group NV raised its stake in SITE Centers by 170.4% during the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares during the last quarter. Covestor Ltd raised its stake in SITE Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after buying an additional 3,112 shares during the last quarter. Van ECK Associates Corp raised its stake in SITE Centers by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in SITE Centers during the 4th quarter valued at $148,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in SITE Centers during the 4th quarter valued at $163,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SITC shares. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Piper Sandler cut their price objective on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company cut their price objective on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, SITE Centers has an average rating of “Hold” and a consensus price target of $35.25.

SITE Centers Trading Down 1.0 %

Shares of SITE Centers stock opened at $11.87 on Wednesday. The company has a market capitalization of $622.26 million, a P/E ratio of 0.87 and a beta of 1.30. 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 fifty day moving average of $12.56 and a 200 day moving average of $14.54. SITE Centers Corp. has a fifty-two week low of $10.46 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC) last issued its 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 firm had revenue of $32.87 million during the quarter, compared to the consensus estimate of $43.58 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. On average, sell-side analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

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.