Thrivent Financial for Lutherans Trims Stake in SITE Centers Corp. (NYSE:SITC)

Thrivent Financial for Lutherans reduced its position in SITE Centers Corp. (NYSE:SITC) by 75.3% in the third quarter, Holdings Channel.com reports. The firm owned 37,025 shares of the company’s stock after selling 112,573 shares during the quarter. Thrivent Financial for Lutherans’ holdings in SITE Centers were worth $2,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in SITE Centers by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock valued at $39,426,000 after purchasing an additional 31,529 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of SITE Centers by 145.0% in the 2nd quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after buying an additional 535,550 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of SITE Centers by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock worth $12,794,000 after buying an additional 56,013 shares during the last quarter. Bank of Montreal Can boosted its stake in SITE Centers by 3,017.5% during the 2nd quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock valued at $11,081,000 after purchasing an additional 739,174 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in SITE Centers by 13.3% during the 2nd quarter. Peregrine Capital Management LLC now owns 488,993 shares of the company’s stock valued at $7,090,000 after purchasing an additional 57,281 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 1.3 %

NYSE:SITC opened at $15.63 on Thursday. SITE Centers Corp. has a 1-year low of $15.43 and a 1-year high of $64.44. The company has a 50-day moving average of $23.40 and a 200 day moving average of $133.31. The firm has a market cap of $819.48 million, a PE ratio of 1.14 and a beta of 1.62. 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 (NYSE:SITC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $6.07 EPS for the quarter, beating the consensus estimate of $0.87 by $5.20. The business had revenue of $89.43 million during 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 quarterly revenue was down 37.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 earnings per share. As a group, research analysts anticipate that SITE Centers Corp. will post 2.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com assumed coverage on SITE Centers in a report on Tuesday. They set a “buy” rating on the stock. Evercore ISI raised SITE Centers to a “hold” rating in a report on Wednesday, July 31st. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Truist Financial raised their price objective on SITE Centers from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler cut 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. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, SITE Centers presently has a consensus rating of “Hold” and an average price target of $58.89.

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.