Fisher Asset Management LLC Sells 973,331 Shares of SITE Centers Corp. (NYSE:SITC)

Fisher Asset Management LLC lowered its position in SITE Centers Corp. (NYSE:SITC) by 75.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 317,969 shares of the company’s stock after selling 973,331 shares during the quarter. Fisher Asset Management LLC’s holdings in SITE Centers were worth $19,237,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in SITE Centers during the 2nd quarter valued at approximately $42,000. Quarry LP boosted its position in shares of 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 acquiring an additional 2,857 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in SITE Centers in the 3rd quarter valued at $319,000. Landscape Capital Management L.L.C. bought a new stake in SITE Centers in the 3rd quarter valued at $319,000. Finally, Los Angeles Capital Management LLC purchased a new stake in SITE Centers in the 3rd quarter worth $355,000. Institutional investors own 88.70% of the company’s stock.

SITE Centers Trading Down 1.3 %

SITC stock opened at $15.63 on Thursday. The firm’s fifty day simple moving average is $23.40 and its two-hundred day simple moving average is $133.31. The stock has a market capitalization of $819.48 million, a price-to-earnings ratio of 1.14 and a beta of 1.62. The company has a quick ratio of 6.55, a current ratio of 6.55 and a debt-to-equity ratio of 0.12. SITE Centers Corp. has a twelve month low of $15.43 and a twelve month high of $64.44.

SITE Centers (NYSE:SITC) last posted its quarterly earnings data 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 company 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 firm’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 EPS. As a group, analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SITC has been the subject of a number of research analyst reports. 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. Wells Fargo & Company cut SITE Centers from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $68.00 to $19.00 in a report on Wednesday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. Piper Sandler decreased their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com initiated coverage on shares of SITE Centers in a research note on Tuesday. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.89.

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.