Natixis Advisors LLC Has $1.19 Million Stock Position in SITE Centers Corp. (NYSE:SITC)

Natixis Advisors LLC lessened its holdings in SITE Centers Corp. (NYSE:SITC) by 74.7% during the third quarter, HoldingsChannel reports. The firm owned 19,703 shares of the company’s stock after selling 58,184 shares during the quarter. Natixis Advisors LLC’s holdings in SITE Centers were worth $1,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SITC. Allspring Global Investments Holdings LLC bought a new position in shares of SITE Centers in the 2nd quarter valued at $42,000. Quarry LP increased its holdings in SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after purchasing an additional 2,857 shares in the last quarter. AlphaMark Advisors LLC bought a new position in SITE Centers in the third quarter valued at about $319,000. Los Angeles Capital Management LLC acquired a new stake in shares of SITE Centers during the third quarter valued at about $355,000. Finally, Blue Trust Inc. grew its holdings in shares of SITE Centers by 508.3% during the third quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock worth $386,000 after purchasing an additional 5,332 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SITC. Compass Point dropped their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Wells Fargo & Company downgraded shares of SITE Centers from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $68.00 to $19.00 in a research note on Wednesday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a research note on Monday, October 7th. StockNews.com began coverage on SITE Centers in a research report on Tuesday. They set a “buy” rating for the company. Finally, Truist Financial upped their price target on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SITE Centers has an average rating of “Hold” and an average target price of $58.89.

SITE Centers Trading Down 1.1 %

NYSE SITC opened at $15.83 on Wednesday. The stock has a market capitalization of $829.97 million, a price-to-earnings ratio of 1.16 and a beta of 1.62. The business’s fifty day moving average is $24.26 and its 200-day moving average is $134.14. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.55 and a quick ratio of 6.55. SITE Centers Corp. has a one year low of $15.43 and a one year high of $64.44.

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