Advisors Preferred LLC Purchases New Shares in SITE Centers Corp. (NYSE:SITC)

Advisors Preferred LLC acquired a new position in shares of SITE Centers Corp. (NYSE:SITC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 167,816 shares of the company’s stock, valued at approximately $2,517,000. Advisors Preferred LLC owned 0.32% of SITE Centers at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of SITE Centers by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 104,138 shares of the company’s stock valued at $1,510,000 after acquiring an additional 1,751 shares during the period. SG Americas Securities LLC lifted its holdings in shares of SITE Centers by 115.1% during the 3rd quarter. SG Americas Securities LLC now owns 16,318 shares of the company’s stock worth $987,000 after acquiring an additional 8,731 shares during the period. AlphaMark Advisors LLC bought a new position in shares of SITE Centers in the 3rd quarter valued at $319,000. Blue Trust Inc. grew its holdings in shares of SITE Centers by 508.3% during the 3rd quarter. Blue Trust Inc. now owns 6,381 shares of the company’s stock valued at $386,000 after purchasing an additional 5,332 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of SITE Centers during the third quarter worth $355,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

SITE Centers Stock Performance

NYSE:SITC opened at $15.01 on Friday. The company has a market capitalization of $786.97 million, a P/E ratio of 1.10 and a beta of 1.60. The business has a fifty day simple moving average of $15.24 and a two-hundred day simple moving average of $55.60. 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 Corp. has a 1 year low of $14.55 and a 1 year high of $32.22.

Insider Transactions at SITE Centers

In other news, EVP John M. Cattonar sold 8,794 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total value of $133,844.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dawn M. Sweeney sold 3,768 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $15.54, for a total transaction of $58,554.72. Following the sale, the director now directly owns 29,082 shares in the company, valued at $451,934.28. This trade represents a 11.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,457 shares of company stock worth $2,791,693. 10.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SITC shares. Piper Sandler dropped their target price on SITE Centers from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Compass Point decreased their price target on shares of SITE Centers from $64.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. StockNews.com initiated coverage on SITE Centers in a report on Wednesday, December 4th. They issued a “hold” rating for the company. Citigroup decreased their price target on SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Wells Fargo & Company lowered their target price on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, SITE Centers currently has a consensus rating of “Hold” and a consensus target price of $35.75.

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.