Factorial Partners LLC Invests $1.68 Million in SITE Centers Corp. (NYSE:SITC)

Factorial Partners LLC acquired a new stake in SITE Centers Corp. (NYSE:SITC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 110,000 shares of the company’s stock, valued at approximately $1,682,000. Factorial Partners LLC owned 0.21% of SITE Centers as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. KBC Group NV lifted its position in shares of SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares during the period. Vestcor Inc bought a new position in SITE Centers during the third quarter worth $95,000. Van ECK Associates Corp lifted its holdings in SITE Centers by 10.2% in the fourth 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 period. Baader Bank Aktiengesellschaft bought a new stake in SITE Centers during the fourth quarter valued at $163,000. Finally, Neo Ivy Capital Management bought a new stake in SITE Centers during the third quarter valued at $202,000. 88.70% of the stock is owned by institutional investors.

Insider Transactions at SITE Centers

In other news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total value of $2,599,294.05. Following the completion of the sale, the chief executive officer now owns 136,008 shares in the company, valued at $2,093,163.12. This represents a 55.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the transaction, the director now owns 29,082 shares in the company, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,457 shares of company stock valued at $2,791,693 over the last ninety days. 10.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SITC shares. Citigroup dropped their price objective on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. StockNews.com raised SITE Centers from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler dropped their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SITE Centers has a consensus rating of “Hold” and a consensus price target of $35.61.

SITE Centers Stock Performance

NYSE SITC opened at $14.01 on Friday. The company has a market cap of $734.28 million, a P/E ratio of 1.02 and a beta of 1.60. The company has a fifty day simple moving average of $15.00 and a 200 day simple moving average of $31.48. 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 12-month low of $13.30 and a 12-month high of $32.22.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The business had revenue of $32.87 million for the quarter, compared to analyst estimates of $43.58 million. Sell-side analysts predict that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

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.