SG Americas Securities LLC boosted its position in Site Centers Corp. (NYSE:SITC – Free Report) by 176.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,262,491 shares of the company’s stock after purchasing an additional 1,442,755 shares during the period. SG Americas Securities LLC’s holdings in Site Centers were worth $12,217,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in SITC. Jefferies Financial Group Inc. boosted its stake in shares of Site Centers by 771.0% during the 3rd quarter. Jefferies Financial Group Inc. now owns 1,354,196 shares of the company’s stock worth $12,201,000 after acquiring an additional 1,198,725 shares during the last quarter. Tudor Investment Corp ET AL grew its position in shares of Site Centers by 47.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 314,955 shares of the company’s stock valued at $2,838,000 after acquiring an additional 100,709 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Site Centers by 150.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 654,465 shares of the company’s stock worth $4,202,000 after purchasing an additional 393,571 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Site Centers by 71.7% in the 4th quarter. Jennison Associates LLC now owns 293,532 shares of the company’s stock worth $1,884,000 after purchasing an additional 122,609 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Site Centers by 28.8% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,763 shares of the company’s stock worth $416,000 after purchasing an additional 14,497 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Site Centers Price Performance
SITC opened at $4.54 on Friday. The firm has a market cap of $237.95 million, a P/E ratio of 1.37 and a beta of 0.97. Site Centers Corp. has a 1-year low of $4.51 and a 1-year high of $13.10. The company has a 50 day simple moving average of $5.21 and a two-hundred day simple moving average of $5.82.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SITC. Weiss Ratings reiterated a “sell (d)” rating on shares of Site Centers in a research report on Wednesday. Piper Sandler upped their price target on Site Centers from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $8.00.
Check Out Our Latest Stock Analysis on SITC
About Site Centers
Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.
Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.
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