Blue Trust Inc. Reduces Position in SITE Centers Corp. (NYSE:SITC)

Blue Trust Inc. decreased its holdings in SITE Centers Corp. (NYSE:SITC) by 70.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,912 shares of the company’s stock after selling 4,469 shares during the period. Blue Trust Inc.’s holdings in SITE Centers were worth $29,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vestcor Inc purchased a new position in SITE Centers in the 3rd quarter valued at approximately $95,000. Neo Ivy Capital Management bought a new position in shares of SITE Centers in the third quarter worth $202,000. Systematic Financial Management LP purchased a new position in shares of SITE Centers in the third quarter valued at $203,000. Quantinno Capital Management LP bought a new stake in shares of SITE Centers during the 3rd quarter valued at $244,000. Finally, AlphaMark Advisors LLC purchased a new stake in SITE Centers during the 3rd quarter worth about $319,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Stock Down 1.4 %

SITC opened at $14.81 on Tuesday. The business’s fifty day simple moving average is $15.22 and its 200 day simple moving average is $51.30. SITE Centers Corp. has a 52 week low of $14.55 and a 52 week high of $32.22. 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 stock has a market cap of $776.28 million, a PE ratio of 1.08 and a beta of 1.60.

Insider Activity

In other news, CEO David R. Lukes sold 168,895 shares of SITE Centers stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $15.39, for a total value of $2,599,294.05. Following the transaction, the chief executive officer now owns 136,008 shares in the company, valued at approximately $2,093,163.12. The trade was a 55.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dawn M. Sweeney sold 3,768 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the sale, the director now owns 29,082 shares of the company’s stock, valued at $451,934.28. This represents a 11.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SITC. Piper Sandler reduced their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, November 4th. StockNews.com initiated coverage on shares of SITE Centers in a report on Wednesday, December 4th. They set a “hold” rating on the stock. Wells Fargo & Company cut their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Citigroup decreased their price target on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, 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 note on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, SITE Centers currently has an average rating of “Hold” and a consensus target price of $35.75.

SITE Centers 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.