Ieq Capital LLC Buys New Stake in SITE Centers Corp. (NYSE:SITC)

Ieq Capital LLC bought a new stake in SITE Centers Corp. (NYSE:SITC) in the 4th quarter, Holdings Channel.com reports. The fund bought 33,974 shares of the company’s stock, valued at approximately $519,000.

Several other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of SITE Centers by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 271,067 shares of the company’s stock worth $4,145,000 after purchasing an additional 11,278 shares in the last quarter. Rhumbline Advisers lifted its position in SITE Centers by 2.2% in the fourth quarter. Rhumbline Advisers now owns 153,334 shares of the company’s stock valued at $2,344,000 after acquiring an additional 3,366 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in SITE Centers by 7.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 69,924 shares of the company’s stock valued at $1,050,000 after acquiring an additional 4,669 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of SITE Centers by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 8,996 shares of the company’s stock valued at $138,000 after buying an additional 833 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of SITE Centers in the fourth quarter valued at about $2,517,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Insider Activity at SITE Centers

In other news, Director Dawn M. Sweeney sold 3,768 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $15.54, for a total value of $58,554.72. Following the transaction, the director now owns 29,082 shares of the company’s stock, valued at approximately $451,934.28. This trade represents a 11.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David R. Lukes sold 168,895 shares of the firm’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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,457 shares of company stock valued at $2,791,693. Company insiders own 10.10% of the company’s stock.

SITE Centers Stock Performance

Shares of SITC opened at $14.54 on Thursday. 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 company has a market capitalization of $762.07 million, a price-to-earnings ratio of 1.06 and a beta of 1.60. The company’s 50 day simple moving average is $15.05 and its 200 day simple moving average is $33.20. SITE Centers Corp. has a 1 year low of $14.32 and a 1 year high of $32.22.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of SITE Centers from a “hold” rating to a “buy” rating in a report on Tuesday. Piper Sandler lowered their target price on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Citigroup lowered their target price on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Wells Fargo & Company lowered their price target on shares of SITE Centers from $17.50 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.