Jefferies Financial Group Inc. Acquires New Stake in Site Centers Corp. $SITC

Jefferies Financial Group Inc. bought a new position in shares of Site Centers Corp. (NYSE:SITC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,819,088 shares of the company’s stock, valued at approximately $7,222,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Site Centers during the second quarter worth about $20,004,000. Rush Island Management LP increased its position in Site Centers by 11.4% during the 1st quarter. Rush Island Management LP now owns 4,445,666 shares of the company’s stock valued at $24,007,000 after purchasing an additional 456,032 shares during the period. Cohen & Steers Inc. increased its position in Site Centers by 129.8% during the 4th quarter. Cohen & Steers Inc. now owns 2,678,505 shares of the company’s stock valued at $17,196,000 after purchasing an additional 1,512,817 shares during the period. SG Americas Securities LLC raised its holdings in Site Centers by 176.0% during the 1st quarter. SG Americas Securities LLC now owns 2,262,491 shares of the company’s stock worth $12,217,000 after purchasing an additional 1,442,755 shares during the last quarter. Finally, Gumshoe Capital Management LLC bought a new position in Site Centers during the 4th quarter worth approximately $14,278,000. 88.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Site Centers from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 20th. Wall Street Zen raised shares of Site Centers from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler dropped their target price on shares of Site Centers from $5.00 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Site Centers in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Site Centers currently has an average rating of “Reduce” and an average price target of $6.75.

Site Centers Stock Performance

Site Centers stock opened at $2.98 on Friday. The stock has a market capitalization of $156.62 million, a price-to-earnings ratio of 1.24 and a beta of 0.99. Site Centers Corp. has a 52-week low of $2.89 and a 52-week high of $12.39. The stock’s 50 day moving average price is $3.89 and its two-hundred day moving average price is $5.00.

Site Centers (NYSE:SITC) last released its quarterly earnings data on Monday, August 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.08. Site Centers had a net margin of 219.18% and a return on equity of 40.56%. The company had revenue of $6.85 million during the quarter, compared to analyst estimates of $8.20 million. On average, equities research analysts forecast that Site Centers Corp. will post -0.29 EPS for the current year.

Site Centers Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were paid a $1.00 dividend.

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.