Natixis Advisors LLC Decreases Position in SITE Centers Corp. (NYSE:SITC)

Natixis Advisors LLC lowered its position in SITE Centers Corp. (NYSE:SITC) by 21.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,443 shares of the company’s stock after selling 4,260 shares during the quarter. Natixis Advisors LLC’s holdings in SITE Centers were worth $236,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vestcor Inc purchased a new position in SITE Centers during the 3rd quarter valued at about $95,000. Neo Ivy Capital Management purchased a new position in shares of SITE Centers during the 3rd quarter worth approximately $202,000. Systematic Financial Management LP acquired a new position in shares of SITE Centers during the 3rd quarter worth approximately $203,000. KBC Group NV lifted its stake in SITE Centers by 170.4% in the 4th quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after buying an additional 2,193 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in SITE Centers during the 3rd quarter valued at $244,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Stock Down 1.1 %

Shares of SITC opened at $12.64 on Friday. The firm has a market cap of $662.45 million, a PE ratio of 0.92 and a beta of 1.63. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is $14.12 and its two-hundred day moving average is $19.82. SITE Centers Corp. has a fifty-two week low of $12.58 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The firm had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. Analysts forecast that SITE Centers Corp. will post 3.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SITC shares. StockNews.com cut SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Piper Sandler reduced their target price on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Citigroup cut their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SITE Centers has a consensus rating of “Hold” and a consensus price target of $35.25.

SITE Centers Company 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.