Daiwa Securities Group Inc. Lowers Stock Holdings in SITE Centers Corp. (NYSE:SITC)

Daiwa Securities Group Inc. trimmed its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 97.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,686 shares of the company’s stock after selling 733,827 shares during the period. Daiwa Securities Group Inc.’s holdings in SITE Centers were worth $240,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vestcor Inc purchased a new position in shares of SITE Centers during the third quarter valued at approximately $95,000. Neo Ivy Capital Management purchased a new position in shares of SITE Centers during the third quarter valued at approximately $202,000. Systematic Financial Management LP purchased a new position in shares of SITE Centers during the third quarter valued at approximately $203,000. KBC Group NV lifted its holdings in shares of SITE Centers by 170.4% during the fourth quarter. KBC Group NV now owns 3,480 shares of the company’s stock valued at $53,000 after purchasing an additional 2,193 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of SITE Centers during the third quarter valued at approximately $244,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John M. Cattonar sold 8,794 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.22, for a total transaction of $133,844.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.10% of the company’s stock.

SITE Centers Price Performance

Shares of SITC opened at $12.71 on Monday. The firm has a market cap of $666.12 million, a PE ratio of 0.93 and a beta of 1.63. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $22.49. SITE Centers Corp. has a 1-year low of $12.58 and a 1-year high of $64.44.

SITE Centers (NYSE:SITC) last announced its earnings results on Thursday, February 27th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.07). The company had revenue of $32.87 million for the quarter, compared to analysts’ expectations of $43.58 million. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. On average, equities analysts anticipate that SITE Centers Corp. will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SITC. Piper Sandler decreased their price objective on shares of SITE Centers from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, February 28th. StockNews.com lowered shares of SITE Centers from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price objective 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. Finally, Citigroup decreased their price objective on shares of SITE Centers from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, December 9th. 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, the company has a consensus rating of “Hold” and an average target price of $35.61.

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.