Universal Beteiligungs und Servicegesellschaft mbH Takes $817,000 Position in Site Centers Corp. (NYSE:SITC)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Site Centers Corp. (NYSE:SITC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 63,659 shares of the company’s stock, valued at approximately $817,000.

A number of other hedge funds also recently bought and sold shares of the company. Covestor Ltd increased its stake in Site Centers by 483.2% during the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock valued at $57,000 after purchasing an additional 3,112 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Site Centers by 1,223.2% during the first quarter. GAMMA Investing LLC now owns 8,230 shares of the company’s stock valued at $106,000 after acquiring an additional 7,608 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Site Centers during the fourth quarter valued at approximately $148,000. Aristides Capital LLC purchased a new position in Site Centers in the 4th quarter worth approximately $205,000. Finally, Tower Research Capital LLC TRC lifted its position in Site Centers by 1,306.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,419 shares of the company’s stock valued at $205,000 after acquiring an additional 12,465 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

SITC has been the subject of a number of research analyst reports. Wall Street Zen raised Site Centers from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.25.

Site Centers Trading Down 1.3%

Shares of SITC stock opened at $10.63 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.58. Site Centers Corp. has a 12-month low of $10.45 and a 12-month high of $32.00. The stock has a market capitalization of $557.44 million, a P/E ratio of 1.03 and a beta of 1.36. The firm’s 50 day moving average is $11.68 and its 200 day moving average is $12.66.

Site Centers (NYSE:SITC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Site Centers had a return on equity of 39.38% and a net margin of 201.78%. The firm had revenue of $40.35 million during the quarter, compared to analysts’ expectations of $33.50 million. During the same quarter last year, the business earned $0.28 earnings per share. The business’s quarterly revenue was down 66.6% on a year-over-year basis. Research analysts expect that Site Centers Corp. will post 3.24 earnings per share for the current year.

Site Centers Dividend Announcement

The company also recently declared a special dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $1.50 per share.

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.