Lindbrook Capital LLC Acquires 1,218 Shares of SITE Centers Corp. (NYSE:SITC)

Lindbrook Capital LLC boosted its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,219 shares of the company’s stock after acquiring an additional 1,218 shares during the quarter. Lindbrook Capital LLC’s holdings in SITE Centers were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Investment Partners LLC acquired a new position in shares of SITE Centers in the 4th quarter worth approximately $159,000. Federated Hermes Inc. lifted its position in shares of SITE Centers by 56.9% in the 4th quarter. Federated Hermes Inc. now owns 88,275 shares of the company’s stock worth $1,203,000 after purchasing an additional 32,008 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of SITE Centers by 4.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 212,045 shares of the company’s stock worth $2,890,000 after purchasing an additional 8,110 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of SITE Centers in the 4th quarter worth approximately $1,228,000. Finally, New York State Teachers Retirement System lifted its position in shares of SITE Centers by 2.3% in the 4th quarter. New York State Teachers Retirement System now owns 111,329 shares of the company’s stock worth $1,517,000 after purchasing an additional 2,499 shares during the period. 88.70% of the stock is owned by institutional investors.

SITE Centers Stock Down 0.1 %

SITE Centers stock opened at $13.76 on Thursday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.81. SITE Centers Corp. has a 12-month low of $10.88 and a 12-month high of $14.71. The firm’s fifty day moving average is $14.00 and its 200 day moving average is $13.45. The company has a market capitalization of $2.88 billion, a PE ratio of 11.37 and a beta of 1.58.

SITE Centers (NYSE:SITC) last released its earnings results on Tuesday, February 13th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.66. SITE Centers had a net margin of 49.25% and a return on equity of 14.00%. The company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $127.81 million. During the same quarter in the previous year, the company earned $0.29 EPS. SITE Centers’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that SITE Centers Corp. will post 0.94 EPS for the current fiscal year.

SITE Centers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.78%. SITE Centers’s payout ratio is 42.98%.

Analyst Upgrades and Downgrades

SITC has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of SITE Centers from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 5th. Wells Fargo & Company restated an “overweight” rating and issued a $15.50 price target on shares of SITE Centers in a research report on Monday, April 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.