Graham Capital Wealth Management LLC Makes New Investment in SITE Centers Corp. (NYSE:SITC)

Graham Capital Wealth Management LLC bought a new position in shares of SITE Centers Corp. (NYSE:SITC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 145,583 shares of the company’s stock, valued at approximately $2,226,000. SITE Centers comprises about 2.0% of Graham Capital Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. Graham Capital Wealth Management LLC owned approximately 0.28% of SITE Centers at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vestcor Inc purchased a new stake in SITE Centers during the 3rd quarter worth approximately $95,000. The Manufacturers Life Insurance Company boosted its holdings in shares of SITE Centers by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock valued at $1,510,000 after acquiring an additional 1,751 shares during the last quarter. KBC Group NV boosted its holdings 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 valued at $53,000 after acquiring an additional 2,193 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of SITE Centers in the 3rd quarter valued at $202,000. Finally, Systematic Financial Management LP purchased a new stake in shares of SITE Centers in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SITC shares. Piper Sandler dropped their price objective on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Citigroup lowered their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Compass Point lowered their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, StockNews.com initiated coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $35.75.

SITE Centers Stock Performance

NYSE:SITC opened at $14.99 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The company has a fifty day moving average of $15.31 and a two-hundred day moving average of $61.12. The stock has a market capitalization of $786.14 million, a PE ratio of 1.10 and a beta of 1.60. SITE Centers Corp. has a fifty-two week low of $14.55 and a fifty-two week high of $32.22.

Insiders Place Their Bets

In other news, EVP John M. Cattonar sold 8,794 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.54, for a total transaction of $58,554.72. Following the completion of the sale, the director now owns 29,082 shares of the company’s stock, valued at $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. Over the last ninety days, insiders sold 181,457 shares of company stock worth $2,791,693. Company insiders own 10.10% of the company’s stock.

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.