New Age Alpha Advisors LLC Takes $3.59 Million Position in SITE Centers Corp. (NYSE:SITC)

New Age Alpha Advisors LLC purchased a new stake 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 SEC. The fund purchased 235,041 shares of the company’s stock, valued at approximately $3,594,000. New Age Alpha Advisors LLC owned about 0.45% of SITE Centers at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in SITE Centers by 10.2% in the 4th quarter. Vanguard Group Inc. now owns 7,296,037 shares of the company’s stock valued at $111,556,000 after purchasing an additional 675,190 shares during the last quarter. Pacer Advisors Inc. acquired a new position in shares of SITE Centers in the 4th quarter valued at $34,297,000. Bank of New York Mellon Corp grew its holdings in shares of SITE Centers by 34.5% during the 4th quarter. Bank of New York Mellon Corp now owns 614,919 shares of the company’s stock worth $9,402,000 after purchasing an additional 157,818 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of SITE Centers during the 4th quarter worth about $5,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in SITE Centers by 19.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 324,157 shares of the company’s stock valued at $19,612,000 after buying an additional 53,412 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

SITE Centers Trading Down 1.1 %

NYSE:SITC opened at $12.64 on Friday. The stock has a fifty day moving average price of $14.12 and a 200 day moving average price of $19.82. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a 12-month low of $12.58 and a 12-month high of $64.44. The firm has a market cap of $662.45 million, a PE ratio of 0.92 and a beta of 1.63.

SITE Centers (NYSE:SITC) last issued its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.07). SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $32.87 million during the quarter, compared to analyst estimates of $43.58 million. Sell-side analysts anticipate that SITE Centers Corp. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SITC has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Wells Fargo & Company cut their target price on SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Wednesday. StockNews.com lowered SITE Centers from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.25.

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.