UBS Group AG Decreases Stock Holdings in Site Centers Corp. $SITC

UBS Group AG trimmed its holdings in shares of Site Centers Corp. (NYSE:SITC) by 52.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,456 shares of the company’s stock after selling 376,506 shares during the quarter. UBS Group AG’s holdings in Site Centers were worth $2,179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Site Centers by 4,078.9% during the second quarter. EverSource Wealth Advisors LLC now owns 3,761 shares of the company’s stock valued at $43,000 after acquiring an additional 3,671 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Site Centers by 1,792.1% during the third quarter. Federated Hermes Inc. now owns 4,560 shares of the company’s stock valued at $41,000 after acquiring an additional 4,319 shares during the last quarter. Pensionfund Sabic purchased a new stake in shares of Site Centers during the fourth quarter valued at approximately $32,000. Covestor Ltd increased its position in shares of Site Centers by 41.4% during the third quarter. Covestor Ltd now owns 7,218 shares of the company’s stock valued at $65,000 after acquiring an additional 2,112 shares during the last quarter. Finally, Pensionfund PDN purchased a new stake in shares of Site Centers during the fourth quarter valued at approximately $48,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SITC has been the subject of a number of research analyst reports. Piper Sandler increased their price target on Site Centers from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research report on Friday, March 27th. Finally, Wall Street Zen downgraded Site Centers from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $8.00.

Site Centers Price Performance

Site Centers stock opened at $5.22 on Thursday. Site Centers Corp. has a one year low of $5.18 and a one year high of $13.10. The business has a fifty day moving average price of $5.44 and a 200-day moving average price of $6.17. The firm has a market capitalization of $273.63 million, a P/E ratio of 1.57 and a beta of 1.01.

Site Centers (NYSE:SITC) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.13. Site Centers had a return on equity of 47.95% and a net margin of 212.95%.The firm had revenue of $13.02 million during the quarter, compared to analyst estimates of $10.20 million.

Site Centers Company Profile

Site Centers (NYSE:SITC) is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of grocery-anchored shopping centers. The company’s portfolio comprises open-air retail properties that primarily serve daily needs tenants and national retailers. By concentrating on neighborhood and community shopping centers, Site Centers aims to provide stable occupancy levels and resilient income streams driven by essential services such as supermarkets, pharmacies and convenient dining options.

Originally known as DDR Corp., the company rebranded as Site Centers in 2021 to emphasize its strategic focus on high-quality retail assets and long-term value creation.