Quest Partners LLC Grows Stock Position in SITE Centers Corp. (NYSE:SITC)

Quest Partners LLC boosted its holdings in shares of SITE Centers Corp. (NYSE:SITC) by 1,046.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,394 shares of the company’s stock after buying an additional 27,743 shares during the quarter. Quest Partners LLC’s holdings in SITE Centers were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SITC. Long Pond Capital LP grew its position in shares of SITE Centers by 403.8% during the 1st quarter. Long Pond Capital LP now owns 5,794,224 shares of the company’s stock valued at $84,885,000 after acquiring an additional 4,644,142 shares during the period. Dimensional Fund Advisors LP increased its position in SITE Centers by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,719,081 shares of the company’s stock worth $39,426,000 after buying an additional 31,529 shares in the last quarter. APG Asset Management US Inc. raised its stake in shares of SITE Centers by 145.0% in the second quarter. APG Asset Management US Inc. now owns 905,000 shares of the company’s stock worth $12,996,000 after buying an additional 535,550 shares during the period. Renaissance Technologies LLC lifted its position in shares of SITE Centers by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 882,336 shares of the company’s stock valued at $12,794,000 after buying an additional 56,013 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in SITE Centers by 3,017.5% in the 2nd quarter. Bank of Montreal Can now owns 763,670 shares of the company’s stock worth $11,081,000 after acquiring an additional 739,174 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SITC has been the topic of several analyst reports. Piper Sandler lowered their price target on shares of SITE Centers from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. KeyCorp reaffirmed a “sector weight” rating on shares of SITE Centers in a report on Monday, October 7th. StockNews.com started coverage on SITE Centers in a report on Monday. They set a “buy” rating on the stock. Truist Financial upped their price objective on SITE Centers from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus boosted their price target on SITE Centers from $65.00 to $65.25 and gave the stock a “buy” rating in a report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $58.89.

SITE Centers Trading Up 0.5 %

SITC stock opened at $15.70 on Tuesday. The firm has a market cap of $823.15 million, a PE ratio of 1.15 and a beta of 1.62. The firm has a fifty day moving average price of $29.41 and a 200 day moving average price of $142.90. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.55 and a current ratio of 6.55. SITE Centers Corp. has a fifty-two week low of $15.43 and a fifty-two week high of $64.44.

SITE Centers (NYSE:SITC) last posted its earnings results 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. SITE Centers had a net margin of 164.10% and a return on equity of 34.20%. The firm had revenue of $89.43 million for the quarter, compared to the consensus estimate of $104.55 million. During the same period in the previous year, the firm posted $1.32 EPS. The business’s quarterly revenue was down 37.5% on a year-over-year basis. Sell-side analysts anticipate that SITE Centers Corp. will post 2.9 earnings per share for the current fiscal year.

About SITE Centers

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.