SITE Centers Corp. (NYSE:SITC) Shares Bought by Rush Island Management LP

Rush Island Management LP raised its position in SITE Centers Corp. (NYSE:SITC) by 161.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,582,301 shares of the company’s stock after acquiring an additional 976,110 shares during the quarter. SITE Centers comprises about 1.6% of Rush Island Management LP’s portfolio, making the stock its 13th biggest holding. Rush Island Management LP’s holdings in SITE Centers were worth $24,193,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. KBC Group NV lifted its stake in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock worth $53,000 after purchasing an additional 2,193 shares in the last quarter. Covestor Ltd lifted its stake in SITE Centers by 483.2% in the 4th quarter. Covestor Ltd now owns 3,756 shares of the company’s stock worth $57,000 after purchasing an additional 3,112 shares in the last quarter. Van ECK Associates Corp lifted its stake in SITE Centers by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock worth $138,000 after purchasing an additional 833 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in SITE Centers in the 4th quarter worth approximately $148,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in SITE Centers in the 4th quarter worth approximately $163,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SITC shares. Wells Fargo & Company decreased their target price on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Piper Sandler decreased their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.25.

SITE Centers Stock Up 1.6%

SITC stock opened at $12.33 on Friday. The firm has a market cap of $646.65 million, a PE ratio of 0.90 and a beta of 1.32. 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 firm’s 50 day moving average price is $12.14 and its 200-day moving average price is $14.15. SITE Centers Corp. has a one year low of $10.46 and a one year high of $64.44.

SITE Centers (NYSE:SITC) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $40.35 million for the quarter, compared to analysts’ expectations of $33.50 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s quarterly revenue was down 66.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities research analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current year.

About SITE Centers

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.