Jacobs Levy Equity Management Inc. Acquires New Holdings in Site Centers Corp. $SITC

Jacobs Levy Equity Management Inc. acquired a new stake in Site Centers Corp. (NYSE:SITC) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 69,869 shares of the company’s stock, valued at approximately $897,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Site Centers by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,032 shares of the company’s stock valued at $413,000 after buying an additional 1,011 shares during the period. Deutsche Bank AG raised its holdings in Site Centers by 1.9% in the 4th quarter. Deutsche Bank AG now owns 63,704 shares of the company’s stock valued at $974,000 after buying an additional 1,195 shares during the period. Resona Asset Management Co. Ltd. increased its stake in Site Centers by 7.8% during the first quarter. Resona Asset Management Co. Ltd. now owns 20,457 shares of the company’s stock worth $259,000 after purchasing an additional 1,486 shares during the period. American Century Companies Inc. increased its stake in Site Centers by 12.3% during the first quarter. American Century Companies Inc. now owns 13,864 shares of the company’s stock worth $178,000 after purchasing an additional 1,516 shares during the period. Finally, Covestor Ltd increased its stake in Site Centers by 61.7% during the first quarter. Covestor Ltd now owns 6,072 shares of the company’s stock worth $78,000 after purchasing an additional 2,316 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Site Centers Stock Up 1.5%

SITC stock opened at $9.05 on Friday. The company’s 50 day moving average price is $11.11 and its 200 day moving average price is $11.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.74. Site Centers Corp. has a fifty-two week low of $8.89 and a fifty-two week high of $30.56. The firm has a market capitalization of $474.58 million, a price-to-earnings ratio of 1.34 and a beta of 1.40.

Site Centers (NYSE:SITC) last released its earnings results on Tuesday, August 5th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Site Centers had a net margin of 189.28% and a return on equity of 36.67%. The firm had revenue of $30.66 million for the quarter, compared to analyst estimates of $33.10 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The business’s quarterly revenue was down 63.8% compared to the same quarter last year. On average, equities research analysts anticipate that Site Centers Corp. will post 3.24 EPS for the current fiscal year.

Site Centers Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a dividend of $3.25 per share. The ex-dividend date was Tuesday, September 2nd.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SITC shares. Piper Sandler reiterated an “overweight” rating on shares of Site Centers in a research note on Tuesday, July 8th. LADENBURG THALM/SH SH started coverage on shares of Site Centers in a research note on Tuesday. They set a “neutral” rating and a $10.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Site Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.39.

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.