Metis Global Partners LLC Sells 9,234 Shares of SITE Centers Corp. (NYSE:SITC)

Metis Global Partners LLC decreased its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 65.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,905 shares of the company’s stock after selling 9,234 shares during the quarter. Metis Global Partners LLC’s holdings in SITE Centers were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Long Pond Capital LP increased its position in SITE Centers by 403.8% during the 1st quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock worth $84,885,000 after purchasing an additional 4,644,142 shares in the last quarter. Bank of Montreal Can grew its stake in shares of SITE Centers by 3,017.5% during the second quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock worth $11,081,000 after buying an additional 739,174 shares during the last quarter. APG Asset Management US Inc. increased its holdings in shares of SITE Centers by 145.0% during the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after buying an additional 535,550 shares in the last quarter. Panagora Asset Management Inc. bought a new position in shares of SITE Centers in the 2nd quarter valued at $3,089,000. Finally, Algert Global LLC boosted its holdings in shares of SITE Centers by 65.0% during the 2nd quarter. Algert Global LLC now owns 411,910 shares of the company’s stock valued at $5,973,000 after acquiring an additional 162,260 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SITC. Piper Sandler lowered their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Truist Financial upped their price objective on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Morgan Stanley raised their price objective on shares of SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. StockNews.com initiated coverage on shares of SITE Centers in a report on Monday. They set a “buy” rating on the stock. Finally, Stifel Nicolaus lifted their price target on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Performance

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

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 analysts’ consensus estimates of $0.87 by $5.20. The business had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 earnings per share. As a group, analysts predict that SITE Centers Corp. will post 2.9 EPS for the current year.

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.