14,316 Shares in Site Centers Corp. $SITC Purchased by Cbre Investment Management Listed Real Assets LLC

Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Site Centers Corp. (NYSE:SITC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,316 shares of the company’s stock, valued at approximately $184,000.

Other large investors also recently bought and sold shares of the company. AlphaQuest LLC increased its holdings in shares of Site Centers by 256.7% in the 1st quarter. AlphaQuest LLC now owns 4,848 shares of the company’s stock valued at $62,000 after acquiring an additional 3,489 shares during the last quarter. Northern Trust Corp increased its stake in Site Centers by 2.1% during the first quarter. Northern Trust Corp now owns 817,652 shares of the company’s stock valued at $10,499,000 after purchasing an additional 16,960 shares during the last quarter. American Century Companies Inc. increased its stake in Site Centers by 12.3% during the first quarter. American Century Companies Inc. now owns 13,864 shares of the company’s stock valued at $178,000 after purchasing an additional 1,516 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Site Centers by 182.1% during the first quarter. Russell Investments Group Ltd. now owns 14,893 shares of the company’s stock worth $190,000 after purchasing an additional 9,613 shares during the period. Finally, Resona Asset Management Co. Ltd. lifted its position in shares of Site Centers by 7.8% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company’s stock worth $259,000 after buying an additional 1,486 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SITC shares. Piper Sandler reaffirmed an “overweight” rating on shares of Site Centers in a research report on Tuesday, July 8th. Wall Street Zen upgraded Site Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.25.

Site Centers Stock Up 2.9%

SITC opened at $12.1870 on Friday. The stock’s 50 day moving average price is $11.59 and its 200 day moving average price is $12.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market cap of $639.15 million, a P/E ratio of 1.80 and a beta of 1.36. Site Centers Corp. has a 12 month low of $10.45 and a 12 month high of $30.99.

Site Centers (NYSE:SITC) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. The company had revenue of $30.66 million for the quarter, compared to analyst estimates of $33.10 million. Site Centers had a return on equity of 36.67% and a net margin of 189.28%.The company’s quarterly revenue was down 63.8% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. As a group, research analysts predict that Site Centers Corp. will post 3.24 earnings per share for the current year.

Site Centers Announces Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $1.50 per share. Site Centers’s dividend payout ratio is presently 7.69%.

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.