Swiss National Bank Has $5.57 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Swiss National Bank trimmed its position in SITE Centers Corp. (NYSE:SITC) by 75.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 92,100 shares of the company’s stock after selling 279,100 shares during the period. Swiss National Bank’s holdings in SITE Centers were worth $5,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of SITE Centers in the third quarter worth about $617,000. Los Angeles Capital Management LLC acquired a new position in shares of SITE Centers in the third quarter worth about $355,000. Van ECK Associates Corp boosted its holdings in shares of SITE Centers by 6.3% in the second quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock worth $421,000 after buying an additional 1,723 shares during the period. Custom Index Systems LLC acquired a new position in shares of SITE Centers in the second quarter worth about $242,000. Finally, Versor Investments LP acquired a new position in shares of SITE Centers in the second quarter worth about $338,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on SITC. Morgan Stanley raised their price target on shares of SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Stifel Nicolaus raised 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. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com started coverage on shares of SITE Centers in a report on Tuesday. They set a “buy” rating for the company. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.89.

SITE Centers Trading Down 1.3 %

NYSE:SITC opened at $15.63 on Thursday. SITE Centers Corp. has a 12 month low of $15.43 and a 12 month high of $64.44. The firm has a market cap of $819.48 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $23.40 and its 200-day moving average is $133.31.

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