Stevens Capital Management LP Buys 10,053 Shares of SITE Centers Corp. (NYSE:SITC)

Stevens Capital Management LP raised its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 39.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,732 shares of the company’s stock after acquiring an additional 10,053 shares during the period. Stevens Capital Management LP’s holdings in SITE Centers were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bailard Inc. grew its position in SITE Centers by 9.1% during the fourth quarter. Bailard Inc. now owns 54,000 shares of the company’s stock valued at $736,000 after acquiring an additional 4,500 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in shares of SITE Centers by 99.8% in the fourth quarter. Wolverine Asset Management LLC now owns 82,340 shares of the company’s stock worth $1,122,000 after purchasing an additional 41,126 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of SITE Centers in the fourth quarter worth approximately $30,000. Handelsbanken Fonder AB grew its holdings in shares of SITE Centers by 19.8% in the fourth quarter. Handelsbanken Fonder AB now owns 36,880 shares of the company’s stock worth $503,000 after purchasing an additional 6,100 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of SITE Centers by 24.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,493 shares of the company’s stock worth $443,000 after purchasing an additional 6,480 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

SITE Centers Trading Down 1.1 %

SITC stock traded down $0.14 on Thursday, reaching $13.62. The company’s stock had a trading volume of 2,255,048 shares, compared to its average volume of 2,056,609. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.24 and a current ratio of 3.24. The firm has a market cap of $2.85 billion, a PE ratio of 11.37 and a beta of 1.58. The business has a fifty day simple moving average of $14.00 and a two-hundred day simple moving average of $13.45. SITE Centers Corp. has a 12-month low of $10.88 and a 12-month high of $14.71.

SITE Centers (NYSE:SITC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.26 by $0.66. The business had revenue of $123.20 million during the quarter, compared to analyst estimates of $127.81 million. SITE Centers had a return on equity of 14.00% and a net margin of 49.25%. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. As a group, research analysts forecast that SITE Centers Corp. will post 0.88 EPS for the current year.

SITE Centers Cuts Dividend

The company also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, March 13th. SITE Centers’s dividend payout ratio is currently 42.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $15.50 price target on shares of SITE Centers in a research note on Monday, April 1st. Wolfe Research lowered SITE Centers from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.25.

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.