Nisa Investment Advisors LLC Sells 5,241 Shares of SITE Centers Corp. (NYSE:SITC)

Nisa Investment Advisors LLC trimmed its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 28.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,351 shares of the company’s stock after selling 5,241 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SITE Centers were worth $204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SITC. Quarry LP raised its position in SITE Centers by 503.9% during the second quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after purchasing an additional 2,857 shares during the period. Vestcor Inc purchased a new position in shares of SITE Centers during the third quarter valued at approximately $95,000. Neo Ivy Capital Management bought a new position in shares of SITE Centers during the third quarter valued at approximately $202,000. Systematic Financial Management LP purchased a new stake in shares of SITE Centers in the third quarter worth approximately $203,000. Finally, Quantinno Capital Management LP bought a new stake in shares of SITE Centers during the 3rd quarter worth approximately $244,000. Institutional investors own 88.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SITC shares. Wells Fargo & Company reduced their target price on SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Piper Sandler cut their price target on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Compass Point reduced their price objective on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. StockNews.com assumed coverage on SITE Centers in a research note on Wednesday, December 4th. They set a “hold” rating for the company. Finally, Citigroup cut their target price on SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.75.

Insider Buying and Selling at SITE Centers

In other SITE Centers news, CEO David R. Lukes sold 168,895 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $15.39, for a total transaction of $2,599,294.05. Following the completion of the transaction, the chief executive officer now directly owns 136,008 shares in the company, valued at approximately $2,093,163.12. This represents a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John M. Cattonar sold 8,794 shares of SITE Centers stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,457 shares of company stock worth $2,791,693. Insiders own 10.10% of the company’s stock.

SITE Centers Stock Down 3.4 %

SITE Centers stock opened at $14.80 on Thursday. SITE Centers Corp. has a fifty-two week low of $14.55 and a fifty-two week high of $32.22. The company has a market cap of $775.96 million, a PE ratio of 1.08 and a beta of 1.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. The business’s 50-day simple moving average is $15.35 and its two-hundred day simple moving average is $65.63.

SITE Centers (NYSE:SITC) last posted its earnings results on Wednesday, October 30th. The company reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $5.20. The company had revenue of $89.43 million during the quarter, compared to the consensus estimate of $104.55 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm’s quarterly revenue was down 37.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 earnings per share. Equities analysts anticipate that SITE Centers Corp. will post 3.24 EPS 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.