UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 53,412 Shares of SITE Centers Corp. (NYSE:SITC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in SITE Centers Corp. (NYSE:SITC) by 19.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 324,157 shares of the company’s stock after buying an additional 53,412 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SITE Centers were worth $19,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SITC. Allspring Global Investments Holdings LLC acquired a new stake in shares of SITE Centers during the 2nd quarter worth $42,000. Quarry LP grew its stake in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock worth $50,000 after buying an additional 2,857 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in SITE Centers during the third quarter worth about $319,000. Landscape Capital Management L.L.C. bought a new position in SITE Centers in the 3rd quarter valued at about $319,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of SITE Centers during the 3rd quarter worth approximately $355,000. 88.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SITC shares. KeyCorp restated a “sector weight” rating on shares of SITE Centers in a research report on Monday, October 7th. Morgan Stanley lifted their price target on SITE Centers from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Compass Point dropped their price objective on SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Piper Sandler decreased their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Finally, Truist Financial increased their target price on shares of SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.38.

SITE Centers Stock Performance

NYSE:SITC opened at $15.38 on Friday. The stock’s 50-day moving average is $19.03 and its 200-day moving average is $125.94. SITE Centers Corp. has a 1-year low of $15.31 and a 1-year high of $64.44. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The stock has a market cap of $806.11 million, a P/E ratio of 1.12 and a beta of 1.61.

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

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.