Landscape Capital Management L.L.C. Invests $319,000 in SITE Centers Corp. (NYSE:SITC)

Landscape Capital Management L.L.C. purchased a new stake in SITE Centers Corp. (NYSE:SITC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,275 shares of the company’s stock, valued at approximately $319,000.

A number of other large investors also recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of SITE Centers in the third quarter valued at approximately $2,596,000. GSA Capital Partners LLP purchased a new stake in SITE Centers in the 3rd quarter worth $617,000. Los Angeles Capital Management LLC acquired a new position in SITE Centers during the third quarter worth $355,000. Van ECK Associates Corp lifted its holdings in SITE Centers by 6.3% during the second quarter. Van ECK Associates Corp now owns 29,065 shares of the company’s stock valued at $421,000 after purchasing an additional 1,723 shares in the last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of SITE Centers in the second quarter valued at about $242,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SITC shares. Truist Financial raised their price target on shares of SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Compass Point lowered their price target on SITE Centers from $64.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. StockNews.com started coverage on SITE Centers in a research note on Monday, November 18th. They issued a “buy” rating for the company. Evercore ISI upgraded SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus upped their target price on shares of SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $58.89.

SITE Centers Stock Performance

NYSE:SITC opened at $16.10 on Monday. The company’s 50-day moving average is $26.01 and its two-hundred day moving average is $137.06. SITE Centers Corp. has a 1-year low of $15.43 and a 1-year high of $64.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. The firm has a market capitalization of $844.12 million, a price-to-earnings ratio of 1.18 and a beta of 1.62.

SITE Centers (NYSE:SITC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $6.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $5.20. SITE Centers had a return on equity of 34.20% and a net margin of 164.10%. The company had revenue of $89.43 million during the quarter, compared to analyst estimates of $104.55 million. During the same period in the prior year, the business posted $1.32 earnings per share. The firm’s revenue for the quarter was down 37.5% compared to the same quarter last year. Analysts forecast that SITE Centers Corp. will post 2.9 EPS for the current year.

SITE Centers 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.