GSA Capital Partners LLP Purchases New Shares in SITE Centers Corp. (NYSE:SITC)

GSA Capital Partners LLP purchased a new stake in SITE Centers Corp. (NYSE:SITC) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,195 shares of the company’s stock, valued at approximately $617,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC acquired a new stake in SITE Centers in the 3rd quarter valued at $355,000. Blue Trust Inc. grew its stake in SITE Centers by 508.3% in the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock valued at $386,000 after acquiring an additional 5,332 shares during the period. AlphaMark Advisors LLC acquired a new stake in SITE Centers in the 3rd quarter valued at $319,000. SG Americas Securities LLC grew its stake in SITE Centers by 115.1% in the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock valued at $987,000 after acquiring an additional 8,731 shares during the period. Finally, Quarry LP grew its stake in SITE Centers by 503.9% in the 2nd quarter. Quarry LP now owns 3,424 shares of the company’s stock valued at $50,000 after acquiring an additional 2,857 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analysts Set New Price Targets

SITC has been the topic of a number of research reports. Piper Sandler decreased their price objective on SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Evercore ISI upgraded SITE Centers to a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on SITE Centers from $56.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. StockNews.com started coverage on SITE Centers in a research report on Monday. They set a “buy” rating for the company. Finally, Wells Fargo & Company downgraded SITE Centers from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $19.00 in a research report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.89.

SITE Centers Stock Performance

NYSE SITC opened at $15.70 on Tuesday. The company has a market cap of $823.15 million, a P/E ratio of 1.15 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. The stock has a 50-day moving average of $29.41 and a two-hundred day moving average of $142.90. SITE Centers Corp. has a 1-year low of $15.43 and a 1-year high of $64.44.

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

About SITE Centers

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.