SITE Centers Corp. (NYSE:SITC) Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 36.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,383 shares of the company’s stock after selling 123,700 shares during the period. Strs Ohio owned about 0.10% of SITE Centers worth $2,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in shares of SITE Centers by 36.0% during the third quarter. Invesco Ltd. now owns 781,459 shares of the company’s stock worth $9,635,000 after buying an additional 206,827 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of SITE Centers during the third quarter worth about $1,178,000. Hsbc Holdings PLC grew its holdings in shares of SITE Centers by 13.7% during the third quarter. Hsbc Holdings PLC now owns 1,159,418 shares of the company’s stock worth $14,327,000 after buying an additional 140,134 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SITE Centers during the third quarter worth about $1,197,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of SITE Centers by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 18,476,250 shares of the company’s stock worth $227,812,000 after buying an additional 384,823 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SITC shares. Wells Fargo & Company reiterated an “overweight” rating and set a $15.50 price target on shares of SITE Centers in a report on Monday, April 1st. Wolfe Research downgraded shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and an average price target of $14.25.

SITE Centers Price Performance

SITE Centers stock opened at $13.55 on Friday. SITE Centers Corp. has a 1 year low of $10.88 and a 1 year high of $14.71. The firm has a 50 day moving average price of $14.02 and a 200 day moving average price of $13.38. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 11.20 and a beta of 1.58. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24.

SITE Centers (NYSE:SITC) last released its earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The firm had revenue of $123.20 million during the quarter, compared to the consensus estimate of $127.81 million. During the same period in the previous year, the firm earned $0.29 earnings per share. SITE Centers’s revenue was down 9.7% compared to the same quarter last year. Sell-side analysts predict that SITE Centers Corp. will post 0.94 earnings per share for the current year.

SITE Centers Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.84%. SITE Centers’s dividend payout ratio (DPR) is 42.98%.

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.